Odeon Capital analyst Dick Bove downgraded PNC Financial to Hold from Buy with a $120 price target. Q2 results were “disappointing,” the company is guiding to lower results for the full year and the balance sheet is “troubled with too many overstated assets,” but the stock has been rising along with its group, said the analyst. “At some point, reality needs to set in,” Odeon contends.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PNC:
- PNC Financial price target lowered to $135 from $145 at Credit Suisse
- PNC Financial price target lowered to $176 from $186 at Wells Fargo
- PNC says share repurchase activity in Q3 expected to remain ‘modest’
- PNC Financial says expense control is ‘in focus’
- PNC Financial sees FY23 revenue up 2%-2.5% vs. 2022, consensus $22.02B