PNC Financial Upgraded: Analyst Highlights Company's Ability To Capitalize Opportunities From Market Dislocations
Portfolio Pulse from Nabaparna Bhattacharya
BofA Securities analyst Ebrahim H. Poonawala upgraded PNC Financial Services Group, Inc. (NYSE:PNC) to Buy from Neutral, raising the price objective to $200 from $185. The analyst highlights PNC's ability to capitalize on market dislocations and forecasts a 14% annual EPS growth for FY25/26. PNC is expected to deliver solid NII growth and is well-positioned for potential M&A activities.
August 15, 2024 | 6:53 pm
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BofA Securities upgraded PNC Financial Services Group, Inc. to Buy from Neutral, raising the price target to $200. The analyst forecasts a 14% annual EPS growth for FY25/26 and highlights PNC's ability to capitalize on market dislocations.
The upgrade to Buy and the raised price target to $200 from $185 by BofA Securities is a strong positive signal for PNC Financial. The analyst's forecast of 14% annual EPS growth and solid NII growth further supports a bullish outlook. The market's positive reaction, with shares trading higher by 2.15%, indicates investor confidence in the analyst's assessment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100