Stifel Nicolaus Lowers PT on PNC Financial Services to $82

Stifel Nicolaus is out with its report today on PNC Financial Services PNC, lowering its PT from PNC from $85 to $82. In its report today, Stifel Nicolaus writes, "We are raising our 2011 EPS estimate to $6.27 from $5.86 due to the 2Q11 earnings beat just reported and the combination of the one quarter delay and more muted impact from the implementation of the Durbin Amendment. Our 2012 EPS estimate incorporates the RBC acquisition and remains unchanged at $6.55. Our $82 target price represent 12x our normalized EPS estimate of $6.79." Stifel Nicolaus maintains Buy on PNC. At the time of posting, shares of PNC were trading pre-market at $55.00, up 1.31% from Friday's close.