Wells Fargo
Upgrade grade
B
Downgrade grade
B
Wells Fargo & Company was founded in 1852 as a banking and express company during the California Gold Rush and has evolved into one of the largest financial services companies in the world, maintaining significant investment banking and equity research operations. The firm's research operation covers a broad swath of the U.S. equity market with approximately 17,402 analyst ratings calls in our database, reflecting substantial institutional reach and credibility across major asset classes. Wells Fargo research teams have developed particular expertise across financials, energy, technology, industrials, and consumer sectors, leveraging the firm's integrated banking operations to provide insights across diverse industries. Notably, Wells Fargo's research culture emphasizes rigorous fundamental analysis and has historically positioned the firm as a respected voice in equity markets, though the organization has undergone significant strategic shifts and renewed focus on research excellence following operational challenges in recent years.
Upgrades
1,230
77.07% win rate
· avg +2.18% D1
Downgrades
1,331
75.51% win rate
· avg -2.96% D1
Avg Gap — Upgrades
+2.02%
open vs prev close
Avg Gap — Downgrades
-2.80%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Financial Services | 75.27% (182) | +1.41% | 72.50% (200) | -1.87% |
| Consumer Cyclical | 83.62% (177) | +2.52% | 77.20% (193) | -2.42% |
| Healthcare | 83.33% (144) | +4.00% | 81.60% (163) | -5.64% |
| Energy | 73.64% (129) | +1.72% | 67.97% (153) | -2.11% |
| Real Estate | 69.83% (116) | +0.97% | 76.23% (122) | -1.83% |
| Industrials | 77.48% (111) | +1.69% | 80.53% (113) | -2.45% |
| Technology | 76.19% (105) | +2.91% | 76.47% (119) | -4.55% |
| Utilities | 76.67% (90) | +1.20% | 65.17% (89) | -1.31% |
| Communication Services | 74.65% (71) | +2.40% | 83.33% (72) | -5.47% |
| Consumer Defensive | 78.95% (57) | +4.23% | 78.57% (56) | -3.40% |
| Basic Materials | 69.77% (43) | +1.06% | 76.74% (43) | -2.45% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2026 | 67.2% | 67 | 73.0% | 74 |
| 2025 | 76.5% | 136 | 77.3% | 97 |
| 2024 | 79.0% | 124 | 75.7% | 136 |
| 2023 | 82.9% | 111 | 73.6% | 121 |
| 2022 | 67.6% | 102 | 78.5% | 135 |
| 2021 | 82.1% | 84 | 75.0% | 68 |
| 2020 | 73.3% | 150 | 66.5% | 158 |
| 2019 | 88.7% | 53 | 74.7% | 95 |
| 2018 | 80.0% | 90 | 84.4% | 64 |
| 2017 | 82.3% | 62 | 79.4% | 68 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| May 20, 2026 | META | Meta Platforms, Inc. | Communication Services | Reiterates | Overweight | $765 | — | — |
| May 20, 2026 | AMZN | Amazon.com, Inc. | Consumer Cyclical | Reiterates | Overweight | $312 | — | — |
| May 20, 2026 | PHR | Phreesia, Inc. | Healthcare | Downgrade | Overweight → Equal Weight | $9 | — | — |
| May 18, 2026 | MNST | Monster Beverage Corporation | Consumer Defensive | Reiterates | Overweight | $97 | +0.5% | +1.7% |
| May 18, 2026 | VIK | Viking Holdings Ltd | Consumer Cyclical | Upgrade | Equal Weight → Overweight | $109 | +1.0% | +2.8% |
| May 18, 2026 | ADP | Automatic Data Processing, Inc. | Industrials | Upgrade | Underweight → Equal Weight | $214 | +0.4% | +3.9% |
| May 14, 2026 | WIX | Wix.com Ltd. | Technology | Downgrade | Overweight → Equal Weight | $54 | -0.1% | -4.7% |
| May 14, 2026 | DOCS | Doximity, Inc. | Healthcare | Downgrade | Overweight → Equal Weight | $18 | -21.9% | -23.0% |
| May 14, 2026 | AMPH | Amphastar Pharmaceuticals, Inc. | Healthcare | Downgrade | Overweight → Equal Weight | $19 | -2.8% | -5.6% |
| May 13, 2026 | ADI | Analog Devices, Inc. | Technology | Reiterates | Overweight | $470 | +2.0% | +3.0% |
| May 12, 2026 | NVDA | NVIDIA Corporation | Technology | Reiterates | Overweight | $315 | -0.4% | +0.6% |
| May 12, 2026 | UTL | Unitil Corporation | Utilities | Initiates | Equal Weight | $56 | +0.5% | +0.1% |
| May 12, 2026 | UGI | UGI Corporation | Utilities | Initiates | Overweight | $46 | +1.5% | +1.7% |
| May 12, 2026 | SR | Spire Inc. | Utilities | Initiates | Overweight | $96 | +0.3% | +1.0% |
| May 12, 2026 | SWX | Southwest Gas Holdings, Inc. | Utilities | Initiates | Overweight | $105 | +0.5% | +0.8% |
| May 12, 2026 | OGS | ONE Gas, Inc. | Utilities | Initiates | Underweight | $85 | -0.2% | -0.2% |
| May 12, 2026 | NWN | Northwest Natural Holding Company | Utilities | Initiates | Underweight | $50 | -0.5% | -0.6% |
| May 12, 2026 | NJR | New Jersey Resources Corporation | Utilities | Initiates | Overweight | $63 | +0.9% | +2.0% |
| May 12, 2026 | HTO | H2O America | Utilities | Initiates | Equal Weight | $60 | -0.5% | -0.2% |
| May 12, 2026 | CPK | Chesapeake Utilities Corporation | Utilities | Initiates | Equal Weight | $132 | +0.0% | +0.5% |
| May 12, 2026 | AQN | Algonquin Power & Utilities Corp. | Utilities | Initiates | Equal Weight | $7 | -0.3% | -0.3% |
| May 11, 2026 | MAIR | Madison Air Solutions Corporation | Industrials | Initiates | Overweight | $47 | +4.7% | +0.1% |
| May 11, 2026 | ARXS | Arxis, Inc. Class A Common Stock | Industrials | Initiates | Overweight | $42 | +0.9% | +9.9% |
| May 8, 2026 | MNST | Monster Beverage Corporation | Consumer Defensive | Reiterates | Overweight | $87 | +11.2% | +13.6% |
| May 8, 2026 | NKE | NIKE, Inc. | Consumer Cyclical | Downgrade | Overweight → Equal Weight | $45 | -0.3% | -0.6% |