Wells Fargo Revises Microsoft Price Target and S&P 500 Outlook

Wells Fargo has reduced its year-end S&P 500 target from 7,800 to 7,300 while adjusting Microsoft’s price targets down to $665, then slightly up to $675, all while maintaining an 'Overweight' rating on the tech giant's stock. The adjustments reflect Wells Fargo’s analytical capabilities and insights into market trends, including expectations of robust growth in the AI sector. Furthermore, the firm holds significant exposure to private credit firms, totaling approximately $36 billion, as it prepares to pursue compensation for investment banking services in the coming months.