Keefe Bruyette analyst Brian Kleinhanzl upgraded Wells Fargo to Outperform from Market Perform with a price target of $36, up from $28. The bank’s longer-term prospects “are still substantial” and the stock’s current valuation provides an attractive entry point, Kleinhanzl tells investors in a research note. The analyst believes the rewards outweigh the risks, saying Wells’ ongoing transformation should be both positive for returns and the share price longer term.