BUZZ-Wells Fargo shares rise after Q4 profit climbs
** The fourth-largest U.S. lender Wells Fargo's WFC.N shares rise 2.2% to $72.71 premarket after Q4 profit rises, helped by stronger investment banking earnings
** Increasing confidence spurred companies to issue equity and debt, while corporations also struck deals, lifting volumes from a decade low in 2023
** WFC reports Q4 net income of $5.08 bln, or $1.43 cents per share, compared with $3.45 billion, or 86 cents per share a year earlier
** The bank's investment banking fees jumps 59% to $725 million in Q4 compared with a year earlier
** 16 of 26 brokerages rate the stock "buy" or higher, 10 "hold"; their median PT is $80.50 - data compiled by LSEG
** WFC stock rose ~43% in 2024
(Reporting by Prakhar Srivastava in Bengaluru)
((Prakhar.srivastava2@thomsonreuters.com))
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