Jefferies Remains Sidelined on PNC Financial Services (PNC) - PT to $94

September 26, 2016 6:58 AM EDT
Get Alerts PNC Hot Sheet
Price: $94.28 --0%

Rating Summary:
    12 Buy, 21 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 20 | New: 8
Trade PNC Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Jefferies reiterated a Hold rating on PNC Financial Services (NYSE: PNC), and raised the price target to $94.00 (from $88.00), after hosting meetings with management. The new target reflects both the higher EPS estimate and a slight upward tilt in the implied P/E multiple to 12.5x.

Analyst Ken Usdin commented, "We hosted meetings with PNC CFO Rob Reilly. After a multi-year infrastructure upgrade, PNC is looking to the next stages of company growth, with a focus on digital transformation, consumer loan expansion, new market penetration, and tight cost control. These initiatives will take time to show in financials, but they could help put a floor in estimates and should serve PNC well longer-term. We raise '17 EPS to $7.50 on better cost control and PT to $94."

For an analyst ratings summary and ratings history on PNC Financial click here. For more ratings news on PNC Financial click here.

Shares of PNC Financial closed at $89.41 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Jefferies & Co

Add Your Comment