According to these firms, though revenue could be pressured in the near term amidst lower mortgage revenues and muted loan growth, the company has several opportunities to increase revenues, lower cost, further lower the loan loss provision and reduce its share count. If revenues fall short of expectations, Wells Fargo’s expenses and balance sheet leverage would continue to grow EPS at a double-digit clip. At the current price, the firms believe that the company is having a compelling value for its excellent earnings potential. Driven by a superior management team, diversified business mix, best-in-class culture, and significant investment spending, the company remains well positioned for future growth. Looking forward, the Wachovia transaction is strategically and financially compelling. Capital ratios are solid and improving. Wells Fargo is capitalizing on the dislocation of its competitors as it benefits from a flight to quality. The challenges in the credit markets and weak capital positions of competitors will continue to result in significant business opportunities for Wells Fargo, and the firms believe that the company will emerge out of the current credit cycle, with an improved customer and employee base.