It's about to get "worse before it gets better," for Wells Fargo (NYSE:WFC), says analyst David Long, trimming to Underperform from Market Perform.
He expects revenue to contract for a fourth straight year in 2020, and sees profitability metrics continuing to lag those of competitors. Not only that, but peers like JPMorgan and Bank of America trade at less-fancy valuations than Wells.
Shares are down a hair in premarket action.
Try Seeking Alpha PREMIUM for unlimited analysis on WFC