Morgan Stanley Raises Wells Fargo & Company’s Preferred Security Rating from Equal-Weight to Overweight

Fintel reports that on October 5, 2026, Morgan Stanley upgraded their outlook for Wells Fargo & Company – Preferred Security (OTCPK:WFCNP) from Equal-Weight to Overweight.

This rating action follows a prior action on June 29, 2026, when Morgan Stanley maintained an Equal-Weight rating on the security. On the same day, October 5, 2026, other analyst actions occurred. UBS maintained its Buy rating, and Goldman Sachs maintained its Buy rating. Other recent rating actions include JP Morgan maintaining its Neutral rating on October 2, 2026, while Evercore ISI Group maintained its Outperform rating and Truist Securities maintained its Buy rating, both on October 1, 2026.

Separately, as of December 21, 2025, the current consensus target mean for the security was $2.22, with a median target of $2.23. This represents a consensus target revision of +4.31% from the prior consensus target mean of $2.13 recorded on December 6, 2025.

As of the September 1, 2026 recommendation period, the aggregate recommendation profile consisted of 6 strong buy, 14 buy, and 10 hold recommendations, totaling 30 recommendations. This aggregate distribution reflects 66.7% positive, 33.3% hold, and 0.0% negative recommendations, which remained unchanged from the August 1, 2026 period.

Wells Fargo & Company, based in the United States, is a diversified, community-based financial services company with operations worldwide. It primarily operates within the banking industry, offering a broad range of financial products and services, including consumer and commercial finance, investment, mortgage, and brokerage services. Key projects of Wells Fargo have focused on improving technology-driven banking services, enhancing mobile and online banking experiences, and expanding its wealth and investment management division. The company is also involved in several initiatives aimed at sustainable finance, including investments in renewable energy projects and green bonds.

Recent analyst actions

Recent analyst upgrades, downgrades, initiations, and maintained ratings
Date Analyst Prior Latest recommendation Action
October 5, 2026 Morgan Stanley Equal-Weight Overweight upgrade
October 5, 2026 UBS Buy Buy maintained
October 5, 2026 Goldman Sachs Buy Buy maintained
October 2, 2026 JP Morgan Neutral Neutral maintained
October 1, 2026 Evercore ISI Group Outperform Outperform maintained
October 1, 2026 Truist Securities Buy Buy maintained

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