Oppenheimer raised the firm’s price target on PNC Financial (PNC) to $268 from $263 and keeps an Outperform rating on the shares. The firm notes PNC had a solid start to the year with Q1 reported EPS at $4.13 versus its $3.99 and consensus $3.93. While there were some minor special items, and the comparisons were slightly distorted by the FirstBank acquisition which closed early in the quarter, on balance Oppenheimer thinks the reported EPS reflect the underlying fundamentals fairly.
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