Raymond James Cuts Wells Fargo (WFC) Price Target

Wells Fargo & Co (WFC) is the subject of today’s FOMO segment. In this segment Alex Coffey and Jenny Horne discuss what’s giving (WFC) a lift on Friday June 24th despite a lowered price target. Jenny breaks down news today that Raymond James analyst lowered Wells Fargo’s (WFC) price target to $50 from $60 and kept an Outperform rating on (WFC). Jenny and Alex look at how Wells Fargo (WFC) fared in the Fed’s bank stress test. Finally, Alex demonstrates an example of a call diagonal trade using shares of Wells Fargo (WFC) which were trading ~ $41 Friday afternoon which is up around 7.5% on the session.