PNC profit falls 21% amid weaker interest income
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April 17, 2024 11:15 AM EDT
Jefferies analyst Ken Usdin lowered the price target on PNC Financial (NYSE: PNC) to $162.00 (from $171.00) while maintaining a Hold rating.
The analyst comments "Tailwinds from fixed-rate asset repricing provide path to outsized NII growth in 2025 compared to peers. Capital markets revenues rebound... More
April 17, 2024 4:45 AM EDT
Evercore ISI analyst John Pancari lowered the price target on PNC Financial (NYSE: PNC) to $175.00 (from $184.00) while maintaining a Outperform rating.
The analyst comments "Coming out of PNCs 1Q24 results, we are revising our 2024 EPS to $12.42 from $12.19. Our 2025 EPS is unchanged at $14.48. Our 2024 EPS revision of $0.23/share reflects the $0.34/share 1Q24 beat, tempered by a modest negative revision to our 2Q-4Q24 PPNR outlook (mainly fees). Our NII forecast remains near the mid-point of FY24 guidance of down 4-5%... More
