Wells Fargo Stock Hit With Analyst Downgrade
Treating your customers poorly isn't good for business. That's the gist of the reasoning behind Raymond James' downgrade of Wells Fargo's (NYSE: WFC) stock.
The investment bank cut its rating on Wells Fargo's shares from market perform to underperform. Analyst David Long says that scandals have created a "stigma" around the banking giant -- and that the reputational damage will continue to weigh on Wells Fargo's financial results in the years ahead.
Raymond James analyst David Long thinks investors should avoid Wells Fargo's stock. Image source: Getty Images.
Source Fool.com
