Baird analyst David George lowered the firm’s price target on PNC Financial to $205 from $210 and keeps an Outperform rating on the shares. The analyst said Q4 PPNR trends were below expectations due largely to higher expenses and modestly lower NII, but its FY2023 outlook is generally solid.
Published first on TheFly
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Read More on PNC:
- PNC Financial price target lowered to $165 from $170 at Credit Suisse
- Unusually active option classes on open January 18th
- PNC Financial says well capitalized with flexibility
- PNC Financial says continues to grow loan book in ‘disciplined manner’
- PNC Financial sees FY23 revenue up 6%-8% y/y, consensus $23.28B
