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PNC Financial’s Target, Estimates Boosted at Morgan Stanley (PNC)

By Dividend.com,  April 19, 2012, 10:28:26 AM EDT

Regional banker PNC Financial Services ( PNC ) on Thursday caught some positive commentary from analysts at Morgan Stanley.

The firm maintained its "Overweight" rating on PNC and lifted its price target to $68. That new target suggests a 6.6% upside to the stock's Wednesday closing price of $63.78. Morgan Stanley also increased its earnings estimates for the company, citing higher margins and more successful cross-selling.

PNC Financial shares posted modest gains in morning trading Thursday.

The Bottom Line
Shares of PNC Financial ( PNC ) have a 2.51% dividend yield, based on last night's closing stock price of $63.78. The stock has technical support in the $57-$60 price area. If the shares can firm up, we see overhead resistance around the $65-$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.


This article appears in: Investing, Stocks

Referenced Stocks: PNC



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