PNC Financial Services Group: Allan Edwards equity analyst for The Markets Are Open and Goldman Sachs reiterated his buy rating on shares of PNC Financial Services Group (PNC) which is the fifth-largest U.S. bank by deposits. Edwards now see's PNC reaching $85 a share.
Edwards noted a 28% decline in PNC's share price since April is unwarranted, Edwards said "this gives new investors a compelling buying opportunity." Edwards believed that first half results were excellent and that the future for PNC is even brighter.
Edwards cannot explain the stock price drop, but suggests that the decline in the equity markets seen since April are probably the cause.
Edwards' full report can be seen here.
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