UBS: 'Headwinds could persist' for Wells Fargo after the fake account scandal killed its stock last year
Business Insider -

Wells Fargo's troubles keep getting worse.

So far, the bank has agreed to pay a $190 million settlement, return $2.8 million to at least 1.4 million additional customers, and lost its CEO.

Despite the cooperation with regulators and reparations payments, Swiss bank UBS says its analysis "suggests revenue headwinds could persist," and has lowered its price target by $3 to $56.

"The data does not yet suggest a recovery in customer engagement," analysts Saul Martinez and David Eads said in a note...


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