HSBC upgraded PNC Financial to Hold from Reduce with a price target of $155, up from $141. The analyst sees a more attractive relative valuation after the stock’s year-to-date underperformance and the incorporation of a higher long-term return on equity into the firm’s valuation framework.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNC:
- Why Banks Could Be the Best Portfolio Diversifier in 2024
- PNC Financial call volume above normal and directionally bullish
- Early notable gainers among liquid option names on March 4th
- PNC Financial price target lowered to $160 from $164 at Compass Point
- PNC Financial doesn’t see meaningful losses in multifamily book, says CFO