PNC Financial price target raised to $177 from $176 at Morgan Stanley

Morgan Stanley analyst Betsy Graseck raised the firm’s price target on PNC Financial to $177 from $176 and keeps an Underweight rating on the shares. Graseck and fellow analyst Manan Gosalia said bank management comments last week show that their thesis for accelerating deposit costs is playing out, but even faster than they’d anticipated, leading them to take down EPS estimates by a median 2% for Q4.