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Investing.com - Evercore ISI raised its price target on PNC Financial Services Group stock (NYSE:PNC) to $255 from $242 while maintaining an Outperform rating.
The firm revised its earnings estimates following the company’s first-quarter results. Evercore ISI raised its 2026 earnings per share estimate to $19.16 from $19.09 and its 2027 estimate to $21.77 from $20.76. This aligns with broader analyst sentiment, as InvestingPro data shows 4 analysts have revised their earnings upwards for the upcoming period. The stock currently trades at a P/E ratio of 13.48 with a PEG ratio of 0.65, suggesting attractive valuation relative to growth prospects.
The 2026 revision reflects a lower share count and slightly lower loan loss provisions, partially offset by higher expenses. The firm’s revenue expectation remains mostly intact despite select adjustments.
Evercore ISI noted PNC’s fundamentals are marked by accelerating loan growth, improving momentum in fee businesses, and expense control through FirstBank synergies. The firm said capital levels remain ample and offer flexibility, particularly following the Basel III re-proposal.
PNC trades at 10.2 times Evercore ISI’s updated 2027 earnings estimate. The new $255 price target implies approximately 11.7 times the firm’s 2027 earnings estimate. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels. For deeper insights, investors can access PNC’s comprehensive Pro Research Report, one of 1,400+ available on InvestingPro, which transforms complex Wall Street data into actionable intelligence.
In other recent news, PNC Financial Services Group reported its first-quarter 2026 results, with adjusted earnings per share (EPS) of $4.39, surpassing both BofA Securities’ estimate of $4.24 and consensus expectations of $4.21. However, the company’s revenue for the quarter was $6.16 billion, which fell short of the anticipated $6.24 billion. BofA Securities responded to the earnings beat by raising its price target for PNC Financial to $264, maintaining a Buy rating on the stock. Jefferies also increased its price target to $275 from $255, citing a solid quarter and positive updates on loan growth guidance. The bank’s strong loan growth led to an upward revision of its full-year loan growth guidance. Despite these positive earnings results, PNC’s revenue miss contributed to mixed investor sentiment. Both BofA Securities and Jefferies continue to hold a positive outlook on the stock, underscoring the bank’s performance and future guidance. These developments reflect the ongoing adjustments and expectations within the financial sector.
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