Why Wells Fargo Stock Climbed on Tuesday
Wells Fargo (NYSE: WFC) stock climbed 3% on Tuesday as the Senate inched closer to passing a tax bill that could cut the corporate tax rate from 35% down to 20%.
Few companies would benefit as much from a tax cut as Wells Fargo. The nation's third-biggest bank by assets earned $21.1 billion over the trailing 12 months, according to data from YCharts.com. That's enough to rank Wells Fargo fourth in terms of the most profitable companies on the S&P 500 (SNPINDEX: ^GSPC).
Data source: YCharts.com. Chart by author.
Source: Fool.com
Wells Fargo & Co. Stock
€55.03
0.440%
We see a rather positive sentiment for Wells Fargo & Co. with 18 Buy predictions and 2 Sell predictions.
As a result the target price of 60 € shows a slightly positive potential of 9.03% compared to the current price of 55.03 € for Wells Fargo & Co..
