Morgan Stanley analyst Betsy Graseck lowered the firm’s price target on PNC Financial (PNC) to $188 from $209 and keeps an Underweight rating on the shares. The firm is reducing estimates for superregional banks given higher uncertainty driven by trade policy and a slower economic growth outlook. Higher and sooner-than-expected tariffs slow the firm’s economists’ GDP growth forecasts in both 2025 and 2026, notes the analyst, who cut 2025 and 2026 estimates for the group by a median 2% and 1%, respectively.
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