SIG analyst Jack Micenko on Monday cut his estimates for per-share earnings for Wells Fargo & Co. in the wake of the Friday announcement that the bank would pay $1 billion in fines after years of customer misdeeds. For FY 2018, Micenko now expects EPS of $4.59, down from earlier forecasts of $4.83, while for FY 2019, he sees EPS of $5.24, versus $5.34 earlier. But Micenko upped his stock price target to $58 from $54, noting that multiples "should begin showing signs of normalization in time absent further negative news." Analysts have used several of Wells' recent earnings calls to press management on whether any "further negative news" should be expected, with little luck. Wells shares have lost 13% for the year to date, while the S&P 500 is roughly flat.