Street View: Wells Fargo's profitability not likely to be smooth

** Wells Fargo's WFC.N profit beat expectations in the first quarter as the bank cut costs and set aside less money to cover potential loan losses, but its CEO warned on Friday U.S. tariffs risk slowing economic growth

** Average recommendation of 23 brokerages is "buy", median PT is $77 - data compiled by LSEG

ASSET CAP REMOVAL ON THE HORIZON

** Morgan Stanley ("overweight", PT: $77) says co's loan growth is beginning to accelerate, but not enough to offset net interest margin pressure

** BofA Global Research ("buy", PO: $83) sees balance sheet growth as a significant driver of net interest income, especially given the potential asset cap removal on the horizon

** J.P.Morgan ("neutral", PT: $73.5) says co's profitability will likely be tepid even including potential benefit from asset cap being lifted

** Brokerage says "main overhang for all banks including Wells Fargo is the impact of tariffs, which is unclear"

** Citigroup ("neutral", PT: $78) says WFC remains well positioned on credit and capital strength to allow continued buybacks in 2025

** Oppenheimer ("perform") says "we think WFC and all the major banks will generally acquit themselves well in whatever the economic environment throws at them"