BofA raised the firm’s price target on PNC Financial (PNC) to $226 from $223 and keeps a Buy rating on the shares. The company’s Q2 earnings beat was driven by stronger pre-provision net revenue, primarily from better-than-expected fee income and lower credit costs, the analyst tells investors in a research note. At 11.2-times earnings, the stock also looks “attractively valued”, BofA added.
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