Truist analyst John McDonald raised the firm’s price target on PNC Financial (PNC) to $198 from $189 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results for U.S. Banks. The recessionary fears that drove the steep sell-off ahead of last quarter’s results mostly played out in multiples, as did the subsequent rebound, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNC:
- PNC Financial upgraded to Market Perform from Underperform at Keefe Bruyette
- Circle initiated, CoreWeave downgraded: Wall Street’s top analyst calls
- PNC Bank introduces new digital direct deposit manager
- PNC Financial price target raised to $213 from $186 at HSBC
- PNC Financial upgraded to Outperform from Market Perform at Raymond James