Wells Fargo & Company WFC - $20 Price Target

October 8, 2009 - UBS has come out and slapped $20 Price Target on shares on Wells Fargo & Company (WFC) today as the firm initiated coverage. This is rather strange and to be honest, I'm not buying the call.

With the stock trading near $30, it would take a HUGE shoe to drop in order for this call to come true. The stock has bullet-proof support at the $24 level which has held numerous times when the Dow Jones was under 9000.

Wells Fargo & Company (WFC) is set to report earnings Oct 21, 2009.


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