Wells Fargo Stock Hit With Analyst Downgrade
Treating your customers poorly isn't good for business. That's the gist of the reasoning behind Raymond James' downgrade of Wells Fargo's (NYSE: WFC) stock.
The investment bank cut its rating on Wells Fargo's shares from market perform to underperform. Analyst David Long says that scandals have created a "stigma" around the banking giant -- and that the reputational damage will continue to weigh on Wells Fargo's financial results in the years ahead.
Source Fool.com