Credit Suisse Lowers Price Target on PNC Financial (PNC)
On Friday analysts at Credit Suisse cut the numbers on PNC Financial Services (PNC).
According to Credit Suisse PNC is now facing net interest margin pressure. Consequently analysts now see shares of PNC reaching $66, an +11.5% upside to Thursday’s closing price of $59.17.
Credit Suisse maintains its “Neutral” rating on the financial services company.
PNC shares were flat in premarket trading on Friday. The stock is up +2.6% year-to-date.
The Bottom Line
Shares of PNC Financial (PNC) have a 2.70% dividend yield, based on last night’s closing stock price of $59.17. The stock has technical support in the $54-$56 price area. If the shares can firm up, we see overhead resistance around the $62 price level.
PNC Financial Services (PNC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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