据摩根士丹利称，富国银行的前景正在改善。分析师马南·戈萨利亚（Manan Gosalia）将富国银行的评级从“等权重”上调至“超配”，并将其列为首选股票。
The outlook for Wells Fargo is improving, according to Morgan Stanley. Analyst Manan Gosalia upgraded Wells to overweight from equal weight and named the stock a top pick.
他设定的102美元目标价意味着较周五收盘价有27%的上涨空间。
His price target of $102 signals a gain of 27% from Friday's close.
富国银行股价年初至今下跌14%，落后于其他主要美国银行：摩根大通：2026年上涨3.2%；美国银行：下跌2.3%；花旗集团：上涨10%；摩根士丹利：上涨7.2%；高盛：上涨2.7%。
但戈萨利亚表示：“资产负债表增长的正常化应能缓解资金压力，稳定[净息差]，并增强我们对实现更高回报路径的信心。”
Wells Fargo shares are down 14% year to date, lagging other major U.S. banks: JPMorgan Chase : up 3.2% in 2026 Bank of America : down 2.3% Citigroup : up 10% Morgan Stanley : up 7.2% Goldman Sachs : up 2.7% But Gosalia said "normalizing balance sheet growth should ease funding pressure, stabilize [net interest margin], and raises our conviction in the path to higher returns."
净息差是衡量银行盈利能力的关键指标，反映了利息收入与存款利息支出之间的比率。
Net interest margin is a key profitability measure for banks that accounts for interest income relative to interest paid on deposits.
WFC 2026年年初至今走势 WFC 2026年 “我们的观点是，2026年是一个过渡年，富国银行正在重建其增长引擎，以在盈利和回报方面获得全面益处。
WFC YTD mountain WFC in 2026 "Our view is that 2026 has been a transition year, with Wells rebuilding its growth engine ahead of the full benefit to earnings and returns.
随着初期扩张步伐放缓，我们预计盈利状况将改善：息差稀释减少，来自现有客户关系的收入增加，以及持续的经营杠杆效应，”他说。
As the initial pace of expansion moderates, we expect the earnings profile to improve: less margin dilution, more revenue from existing client relationships, and continued operating leverage," he said.
该分析师补充称，该股目前估值为2027年每股有形账面价值的1.5倍，存在巨大的买入机会。在评级上调后，该股在盘前交易中上涨超过1%。大多数覆盖该股的分析师持看涨态度。
The analyst added that the stock is undervalued at 1.5 times 2027 tangible book value per share, pointing to a big buying opportunity. Shares rose more than 1% in the premarket following the upgrade. Most analysts covering shares are bullish.
LSEG数据显示，26位分析师中有18位给予富国银行“买入”或“强力买入”评级。平均目标价也指向24%的上涨空间。
LSEG data shows that 18 of 26 assigned a buy or strong buy rating to Wells Fargo. The average price target also points to upside of 24%.