PNC continues to surge post-earnings


PNC Financial (PNC +3%) enjoys a second day of big gains following its earnings report on Thursday morning.

Upgraded to Buy late yesterday by Sandler O'Neill, PNC gets additional boosts from an upgrade to Buy at Rafferty Capital (with price target lifted to $93 from $81).

BMO Capital retains its Market Perform rating, but lifts the price target to $88, while Bernstein and RayJay raise to $90.

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  • mister-ugly
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    Boost in earnings highlighted by "Blackrock," IPO on "HLT," Hilton, increased revenue & profit. As in past I will reiterate fact that recently before earnings I disputed downgrade on "PNC," arguing fact that the location of branch's in hot energy area of Pa, Ohio, W.Va contribute to growth and jobs. "PNC," stands to gain as the largest of regional banks. The "National City," acquisition was a match made in heaven! Growth in credit cards as reported by "American Express," is relevant to "PNC." Target on stock is $89.00 to $93.00 which seems fairly valued by a number of firms, but as we know stocks that go to $90.00 tend to see $100.00 level. I continue to hold a minority stake of my portfolio in "PNC," having been a "National City," investor.
    17 Jan 2014, 01:45 PM Reply Like
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