Morgan Stanley Made Wells Fargo (WFC) a Top Pick With a $102 Target. The Stock Is Flat Over a Year

Wells Fargo & Company (NYSE:WFC) was upgraded by Morgan Stanley to Overweight from Equal-Weight on October 5, with a $102 price target and a place on the firm's Top Pick list. The shares traded at around $81 on October 6, little changed on the day and almost exactly where they stood a year ago. A bank whose earnings grew a sixth while its stock went nowhere is the entire argument in one line. READ ALSO: Costco (COST) vs Walmart (WMT): Which is a Better Stock to Buy?Morgan Stanley Made Wells Fargo (WFC) a Top Pick With a $102 Target. The Stock Is Flat Over a Year Why the Rating Moved and the Price Did Not: Start with what the business did rather than what the stock did. Earnings grew 16.60% in the most recent quarter on revenue up 9.50%.