Updated:
Wells Fargo Securities selected 13 companies across seven sectors for its fourth-quarter 2026 long-ideas list, citing company-specific developments it expects could support their shares. The selections, reported by Investing.com on October 4, all carry an “overweight” rating and include Microsoft, Occidental Petroleum, Roblox and United Rentals.
Wells Fargo defines overweight as an expectation of at least a 10% total return over the next 12 months. The list is updated quarterly. Its price targets and catalysts reflect the bank’s research views, not guarantees of performance; the report did not provide a detailed account of the methodology used to choose the names.
Technology, media and business services
Microsoft has a $725 price target. Wells Fargo’s cited catalyst is the company’s first quarter under a new reporting structure, expected in late October. The report did not detail how the revised presentation might affect results or investor expectations.
Roblox has a $64 target. Wells Fargo said platform-discovery changes made in late August appeared to be increasing the frequency of successful game launches. The bank pointed to fourth-quarter bookings guidance of $2.01 billion to $2.07 billion, while noting that the release of “Grand Theft Auto VI” could reduce bookings by as much as three percentage points.
Veeva Systems, the healthcare software provider, has a $330 target. Wells Fargo said a 14-6 final score in a top-20 customer-relationship-management competition removed a concern about the stock. The published account did not identify the competition’s participants or give further details on its implications.
MSCI, which provides indexes and analytics, has a $685 target. Wells Fargo expects stronger-than-anticipated index revenue to help the company beat third-quarter earnings consensus when it reports on October 20.
Industrials and energy
Freight broker C.H. Robinson Worldwide has a $215 target. Wells Fargo expects improving brokerage conditions and market-share gains to put third- and fourth-quarter earnings about 8% above consensus. The report offered no additional breakdown of the projected earnings difference.
United Rentals has a $1,355 target. Wells Fargo cited tight equipment supply as support for pricing and forecast third-quarter earnings per share 8% above consensus. Ferguson Enterprises, a distributor, has a $295 target; the bank expects its volumes to accelerate ahead of third-quarter results scheduled for early November.
Aerospace materials maker Hexcel has a $105 target. Wells Fargo pointed to higher widebody aircraft production as a demand driver and said Airbus could announce a higher A350 production target during the fourth quarter. That potential announcement remains a prospective catalyst, rather than a confirmed production change.
Occidental Petroleum has an $82 target. Wells Fargo expects the oil producer to command a higher valuation as it pre-funds an $8.5 billion preferred-equity maturity due in 2029. The report did not specify the timing or means of any pre-funding.
Financials, healthcare and utilities
Fifth Third Bancorp has a $67 target. Wells Fargo expects savings from the regional bank’s integration of Comerica and faster share buybacks to lift earnings above consensus. Fifth Third was scheduled to report third-quarter results on October 19, an upcoming event that could provide investors with information on integration progress.
In healthcare, Axsome Therapeutics has a $256 target. Wells Fargo expects monthly prescription data for its antidepressant Auvelity, due November 13 and December 11, to show stronger growth in Medicare and long-term-care channels. Kymera Therapeutics has a $151 target as it awaits Phase 2b data for KT-621 in atopic dermatitis. Wells Fargo cautioned that efficacy below roughly 70% of dupilumab’s benchmark, or a new safety issue, could weaken the drug’s outlook.
Consolidated Edison has a $118 target. Wells Fargo upgraded the utility to overweight from equal weight, with the company’s annual investor update scheduled for October 6. The Investing.com report did not provide further detail on the bank’s reasoning for the upgrade.
Broader market outlook and open questions
The stock selections come alongside a more guarded broad-market view from Wells Fargo. The bank recently lowered its year-end S&P 500 target to 7,700 from 7,950 and said the index had limited upside, while warning it could first experience a 5% to 10% pullback.
That combination underscores the distinction between the bank’s index outlook and its individual-stock calls: the 13 overweight ratings express company-level expectations, while the S&P 500 forecast describes its broader market view. The available report does not include the full research note, detailed valuation models, or the analysts’ assumptions behind each target. Several cited events are scheduled for coming weeks, but outcomes—including earnings, clinical data and potential aircraft-production announcements—remain uncertain.
