PNC Financial Upgraded to “Buy” at Oppenheimer; Recent Acquisition a Good Fit (PNC)

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Regional banker PNC Financial Services ( PNC ) on Monday caught a big upgrade from analysts at Oppenheimer & Co.

The firm boosted its rating on PNC from "Perform" to "Outperform" with a $75 price target, suggesting an 18% upside to the stock's Friday closing price of $63.80.

Oppenheimer noted PNC's recent acquisition of RBC Bank ( USA ) is an ideal platform to expand the company's offerings.

PNC Financial shares rose 43 cents, or +0.7%, in premarket trading Monday.

The Bottom Line
Shares of PNC Financial Services ( PNC ) have a 2.51% dividend yield, based on Friday's closing stock price of $63.80. The stock has technical support in the $58-$60 price area. If the shares can firm up, we see overhead resistance around the $67-$70 price levels.

PNC Financial Services ( PNC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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Referenced Stocks: PNC , USA

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