RBC Capital analyst Gerard Cassidy upgraded Wells Fargo (WFC) to Outperform from Sector Perform with an unchanged price target of $80. The

Once the asset cap is removed, Well Fargo would be able to execute its growth strategy and reach its 15% return on tangible equity target. Shares of Wells Fargo have declined in recent weeks, but RBC sees the pullback as an opportunity for long-term investors, citing the bank’s improving outlook.