We're upgrading Wells Fargo stock despite its earnings-driven decline

We're upgrading Wells Fargo stock despite its earnings-driven decline

Shares were under pressure after management reduced guidance on a key banking metric. But we don't see it as a bad thing.

Banks shrink exposure to problem office loans, led by Wells Fargo

JPMorgan Chase says revenue from commercial real estate banking fell 1%

Troubled Apartment Loans Weigh On Wells Fargo's Effort To Work Through Bad CRE Debt

Wells Fargo continues to whittle away at its pile of shaky office loans while beating earnings estimates, but Wall Street investors aren’t impressed.  The bank cut the value of its nonaccruing commercial real estate loans to $3.6B from $3.8B at the end of March, according to its Tuesday earnings call. Despite strong second-quarter performance metrics, Wells Fargo's stock was down more than 5% in early trading after it cut its forecast for net in…