PNC Faces Price Target Cuts By Analysts Following Weak Q4 Results

PNC Financial Services Group Inc PNC reported worse-than-expected earnings results on Wednesday.

PNC reported fourth-quarter revenue of $5.76 billion, which beat average analyst estimates of $5.71 billion. The company reported quarterly earnings of $3.49 per share, which missed estimates of $3.95 per share.

PNC shares dropped 2.8% to trade at $147.80 on Thursday.

These analysts made changes to their price targets on PNC Financial after the company released quarterly results.

• Credit Suisse cut the price target on PNC from $170 to $165. Credit Suisse analyst Susan Roth Katzke maintained a Neutral rating on the stock.
• Baird lowered PNC price target from $210 to $205. Baird analyst David George maintained an Outperform rating on the stock.
• Morgan Stanley reduced the price target on the stock from $178 to $163. Morgan Stanley analyst Betsy Graseck maintained the stock with an Underweight rating.

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