Wells Fargo raised the firm’s price target on PNC Financial to $204 from $194 and keeps an Overweight rating on the shares. The firm says a net interest income inflection is here. While PNC should benefit from securities repositioning, slow loan growth could be a significant offset, given that loans yield about 150-250bp more than securities, Wells adds.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNC: