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Credit Suisse upgrades Wells Fargo to outperform; V9 \$ p4 J5 O8 U4 L
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By John Spence3 H) D( w( u6 I/ i
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! u& w: R, Z% G) h, j! ~7 [" lBOSTON (MarketWatch) -- Credit Suisse analysts on Monday upgraded shares of Wells Fargo & Co. (WFC:Wells Fargo & Company' g4 D" X, f- p& @4 V/ b) W3 }- C1 U
WFC 28.62, -0.88, -3.0%) to outperform from neutral, but cut their price target on the stock to $38 from $40. After raising $11 billion through issuing common stock last week and capital injections from the government, Wells Fargo "has substantially improved its balance-sheet flexibility and potential earnings power to navigate a more severe economic downturn," Credit Suisse said in a note to clients. The analysts wrote Wells Fargo, which is in a deal to acquire Wachovia Corp.'s (WB:Wachovia Corp WB 5.48, -0.04, -0.7%) banking operations, has earnings diversity and more balance-sheet flexibility that favorably positions the company to produce "meaningful upside earnings surprise" in 2009 and 2010 "even against the backdrop of a worsening economic environment."! a4 I8 |% [9 v/ D z; P K3 s
4 w# k! Z, Y# L1 h$ a4 |6 v6 N6 P根据这条新闻,是不是该买入了? |
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