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PNC Financial is downgraded to Hold from Buy at Morgan Stanley, the team citing valuation after...

PNC Financial is downgraded to Hold from Buy at Morgan Stanley, the team citing valuation after a big run for the stock. It's the 4th downgrade for PNC since earnings last week and we've lost count of the regional bank stock (KRE) downgrades over the past few days. Nearly all the cuts were from Buy to Hold and come citing valuations amid the mortgage slowdown.
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