Raymond James downgraded shares of Wells Fargo to underperform from market perform, saying the bank is in for a rocky new year.
Justin Sullivan | Getty Images News | Getty Imagesis still tainted by its scandal and has some major hurtles ahead, according to Raymond James.
The firm downgraded shares of Wells Fargo to underperform from market perform, saying the bank is in for a rocky new year. "Stigma around Wells' account scandal still lingers, as anecdotal evidence suggests the bank continues to lose customers and revenue-producing bankers, and struggles to recruit quality talent," said Raymond James banking analyst David Long in a note to clients on Monday.
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