Nomura Securities Downgrades PNC Financial (PNC) to Neutral

October 10, 2016 7:18 AM EDT
Get Alerts PNC Hot Sheet
Price: $117.35 +1.51%

Rating Summary:
    12 Buy, 22 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Nomura Securities downgraded PNC Financial (NYSE: PNC) from Buy to Neutral on valuation.

Analyst Bill Carcache commented, "Going into 2Q16 results, we saw relative value in PNC and moved to an overweight position versus MTB. PNC has outperformed MTB by 10pp since the end of June. We now believe PNC is fully valued and are downgrading shares to Neutral (from Buy); we remain Neutral on MTB."

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 $91.42 yesterday.

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