PNC Financial price target raised to $195 from $176 at Argus

Argus raised the firm’s price target on PNC Financial to $195 from $176 and keeps a Buy rating on the shares after its Q2 earnings beat. The company saw stability in average loans in the quarter as its net interest margin expanded and revenue grew 5%, and these trends should continue as deposit repositioning slows and interest rates ease, the analyst tells investors in a research note, adding that the expected $750M in expense savings initiatives will provide a “strong offset”.