PNC Financial price target raised to $220 from $215 at Goldman Sachs

Goldman Sachs raised the firm’s price target on PNC Financial (PNC) to $220 from $215 and keeps a Neutral rating on the shares as part of a broader research note previewing Q1 results for banks. Valuation for the group appears more attractive after the 7% sell-off year-to-date, which was entirely multiple-driven, with valuation more in-line with historical levels, the analyst tells investors in a research note. Goldman adds that investors are expected to focus on the outlook for net interest income, risks to capital markets revenue from the spike in market volatility, along with impacts to credit quality and provisions from higher energy prices.