Argus has raised its price target for PNC Financial (PNC, Financial) to $218 from the previous $183, maintaining a Buy rating on the stock. This adjustment comes in light of the company's robust performance in the second quarter. Notably, PNC surpassed earnings expectations, achieved a 2% increase in average loans, saw an expansion in its net interest margin, and recorded a 5% growth in revenue. These financial achievements have reinforced Argus's positive outlook on PNC's future prospects.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for PNC Financial Services Group Inc (PNC, Financial) is $211.59 with a high estimate of $235.00 and a low estimate of $182.12. The average target implies an upside of 9.10% from the current price of $193.93. More detailed estimate data can be found on the PNC Financial Services Group Inc (PNC) Forecast page.
Based on the consensus recommendation from 24 brokerage firms, PNC Financial Services Group Inc's (PNC, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for PNC Financial Services Group Inc (PNC, Financial) in one year is $183.54, suggesting a downside of 5.36% from the current price of $193.93. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the PNC Financial Services Group Inc (PNC) Summary page.
