UBS analyst Erika Najarian downgraded PNC Financial to Neutral from Buy with a price target of $176, down from $190. While the fundamental outlook for PNC is still "generally positive," she thinks this is mostly priced in with the stock trading at a 20% premium to large regional peers.
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Published first on TheFly
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Read More on PNC:
- Deutsche upgrades PNC Financial to Buy on defensive positioning
- PNC Financial upgraded to Buy from Hold at Deutsche Bank
- BofA downgrades PNC Financial to Underperform, says EPS defensibility priced in
- PNC Financial downgraded to Underperform from Neutral at BofA
- PNC DECLARES DIVIDEND OF $1.50 ON COMMON STOCK