RBC Capital raised the firm’s price target on PNC Financial to $155 from $140 and keeps an Outperform rating on the shares. The company’s Q4 earnings beat “builds a solid foundation” for its performance in 2024, the analyst tells investors in a research note. RBC adds that it has raised its 2024 and 2025 EPS estimates to $12.65 and $14.00 from $12.55 and $13.90 due to lower noninterest expense.
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Read More on PNC:
- PNC Financial (NYSE:PNC) Tanks on Q4 Results
- Options Volatility and Implied Earnings Moves Today, January 16, 2024
- PNC Financial reports Q4 adjusted EPS $3.16, consensus $2.94
- PNC Reports Full Year 2023 Net Income of $5.6 Billion, $12.79 Diluted EPS or $14.10 as Adjusted
- Options Volatility and Implied Earnings Moves This Week, January 16 – January 19, 2024
