Wells Fargo Asset Cap Removal: How the Fed’s 2025 Decision Unlocks a 15%+ Upside Path Through 2026
Wells Fargo (WFC) post-asset-cap analysis: Q1 2026 loans crossed $1T (+11% YoY), ROTCE target raised to 17-18%, forward P/E 10.6x vs JPM ~13.5x. Base case $102 (+22% upside) on the multi-year re-leverage cycle thesis.