Deutsche Bank Raises PT on PNC Financial (PNC) to $74

Deutsche Bank today maintained a Buy rating on PNC Financial (NYSE: PNC) and raised its price target to $74.00 (from $71.00).

Analyst Matt O'Connor said, "The stock now trades in line with peers and at a modest discount when we factor in the 22% ownership of BlackRock. However, the new mgmt team seems increasingly focused on cutting costs—which we believe will result in lower than expected expenses in 2013 and flattish expenses in 2014/2015 (both likely better than expected)."

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 $65.79 yesterday.

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