** Brokerage Wells Fargo raises price targets on a host of U.S. banks and upgrades two of them
** Upgrades Morgan Stanley and Comerica to equalweight from underweight citing "possible greater-than-expected short-term tailwinds" and "better prospects for loan growth post-election", respectively
** Wells Fargo says a post-election reduction in regulatory risk can aid banks in areas of capital, expenses and fees
** We estimate more excess capital than before, especially given likely better internal capital generations - Wells Fargo
** Additional mergers (including bank consolidations) and IPO activity is also set to help U.S. banks, the brokerage said
** Wells Fargo also expects greater flexibility by banks to return and deploy capital
The price actions on U.S. banks by Wells Fargo:
Banks New PT Old PT
Bank of America $56 $52
Citigroup $95 $85
Comerica $73 $51
Fifth Third Bancorp $54 $52
J.P. Morgan Chase $270 $240
KeyCorp $22 $20
M&T Bank $205 $190
Morgan Stanley $142 $107
Northern Trust $110 $108
PNC Financial $235 $215
Regions Financial $28 $24
State Street $108 $106
BNY $81 $79
Goldman Sachs $680 $600
Truist Financial $52 $48
U.S. Bancorp $62 $60
Zions $62 $54
Bancorporation
(Reporting by Pritam Biswas in Bengaluru)
((Pritam.Biswas@thomsonreuters.com))
