PNC Financial (PNC) Dry Spell May End Soon - Analyst

Oppenheimer maintained an Outperform rating on PNC Financial (NYSE: PNC) and trimmed its price target to $72.00 (from $75.00).

"Our positive fundamental view of PNC Financial remains centered on the company’s ability to successfully capitalize on customer and revenue growth opportunities across all of its markets, most notably in the Southeast," said analyst Terry McEvoy.

McEvoy said he was surprised by the stock's disappointing performance in 2012, but admitted earnings have been choppy.

"With positive revenue expected in 2013 and the growth opportunities building in the Southeast, the stock should trade at a higher multiple," concluded the analyst.

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 $55.55 yesterday.

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