PNC Financial price target raised to $251 from $228.50 at JPMorgan

JPMorgan analyst Vivek Juneja raised the firm’s price target on PNC Financial (PNC) to $251 from $228.50 and keeps an Overweight rating on the shares. The firm adjusted targets in the large cap bank space, saying the market continues to expect two rate cuts and long term rates to “remain sticky with inflation concerns.” The regulatory environment remains favorable and bank consolidation is up and should continue, the analyst tells investors in a research note. JPMorgan sees bank stocks holding up on sector rotation, good economic trends, and steady fundamentals.