Raymond James Reiterates Market Perform Rating on PNC Financial (PNC)

Raymond James analyst Michael Rose reiterated a Market Perform rating on PNC Financial (NYSE: PNC).

The analyst comments "We maintain our Market Perform rating on PNC shares following 1Q25 results that exceeded our forecasts/consensus on a core EPS/PPNR basis and where it reiterated its full-year 2025 outlook. In turn, we aren’t surprised to see the stock trading higher today as the company is generally viewed as a higher quality and “safer” name (1.1% short interest vs. 2.2% peer average) amidst a challenging backdrop given the volatility from tariffs and other policies being implemented by the Trump administration. That said, uncertainty on the credit front for the industry at large as well its 2Q25 expectations for ~$300 million in NCOs (vs. a better-than-projected $205 million in 1Q25 and its 1Q25 forecast of ~$300 million) drives an increase in our loan loss provision forecasts and is the primary reason for the reduction in our EPS estimates (detailed below). In turn, we continue to view risk-reward as balanced for now, although we remain cognizant of its attractive relative valuation as PNC shares trade at lower premiums to peers vs. history."

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 $155.32 yesterday.

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