Wells Fargo WFC

Wells Fargo has made significant adjustments to its financial forecasts in light of changing consumer demand and market dynamics. In recent weeks, the bank upgraded its recommendations for specific companies like CVS Health and NVIDIA while downgrading others such as Nike. These changes reflect renewed optimism following the Federal Reserve's removal of the asset cap, allowing the bank to pursue a revenue target of $98.9 billion by 2029. Despite this optimism in certain sectors, Wells Fargo previously lowered its year-end S&P 500 target to 7,300, indicating cautious sentiment in the broader market landscape.