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Wells Fargo: These 2 Stocks Could Climb at Least 30%

After January’s sell-off, February’s first week of trading saw the stock market firmly back in bull mode. All 3 major indexes closed off the week at or at touching distance from all-time highs, as the market reacted favorably to the latest job data and the Democrats’ decision to move forward with a $1.9 trillion stimulus package. So, where is the market heading next? Investment firm Wells Fargo sees long-term appreciation ahead for the stock markets. Attempting to peer into the future, Wells Fargo’s senior global equity strategist Scott Wren says, “Playing into our expectation for a meaningful bounce back from the pandemic-induced contraction of last year are factors we have discussed in the past and we believe will continue to be the drivers this year. Positive vaccine news, easy money policies being pursued by the Federal Reserve, and additional anticipated government stimulus have all helped the stock market…” Against this backdrop, Wells Fargo analysts are pounding the table on two stocks, noting that each could surge at least 30% in the year ahead. After running the two through TipRanks’ database, we found out that the rest of the Street is also standing squarely in the bull camp. Guild Holdings (GHLD) The stock market may get more headlines, but real estate is where most Americans hold their wealth. The two markets intersect when real estate companies go public. Guild Holdings is a mortgage company, originating, selling, and servicing home loans in the US residential mortgage sector. The company has a footprint across most of the States, and operates through retail and word-of-mouth channels. The San Diego-based company held its IPO last year, in the latter half of October. The opening was only moderately successful, with the stock holding at or near $15, below the $17 planned. Guild Holdings sold 6.5 million shares, which was below the 8.5 million anticipated. The IPO raised $97.5 million, and the company boasts a current market cap ofreiterate our Overweight rating on GHLD. $972.6 million. Looking ahead, Wells Fargo analyst Donald Fandetti thinks the company is well-positioned to benefit in the current climate. “Despite rising interest rates, we believe management struck a confident posture that their business model should hold up relatively well given their purchase/retail orientation. There is also opportunity to fill in their branch footprint in areas such as the Northeast. The rising 10-year yield has shifted investor sentiment further negative for originators,” the analyst opined. In this environment, Fandetti continues to “favor value and purchase mkt exposure,” hence his bullish take on the stock. In line with these comments, Fandetti rates GHLD an Overweight (i.e. Buy), and his $22 price target indicates a potential for 36% upside growth in the year ahead. (To watch Fandetti’s track record, click here) Similarly, the rest of the Street is getting…