Morgan Stanley raised the firm’s price target on PNC Financial (PNC) to $186 from $179 and keeps an Underweight rating on the shares. The company delivered an 8% EPS beat on stronger revenues and lower loan loss provisions, with focus being strong loan growth in Corporate & Institutional Banking division, but while the stock continues to stand out as one of the more compelling net interest income growth stories in the sector, it also trades at a one-turn premium to its peers, the analyst tells investors in a research note.
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