J.P. Morgan analyst Vivek Juneja maintains $PNC Financial Services (PNC.US)$ with a buy rating, and maintains the target price at $203.5.
According to TipRanks data, the analyst has a success rate of 53.8% and a total average return of 8.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $PNC Financial Services (PNC.US)$'s main analysts recently are as follows:
Following PNC Financial's Q3 earnings surpassing expectations, it was noted that the company's disclosures and management discussions were positive. The reiterated forecast for a record net interest income by 2025, coupled with a slightly improved net interest income outlook for Q4, reflects a marginally better forecast than earlier anticipated. Additionally, it was mentioned that the stress observed in the company's commercial real estate office portfolio aligns with prior expectations.
Following the Q3 results and Q4 guidance, estimates for the 2024 and 2025 EPS have been revised upward by 1% to $13.31 and $14.96, respectively. This adjustment is mainly due to increased net interest income and reduced expenses, which nearly balance out the anticipated decrease in fees.
Post-Q3 report observations indicate that PNC Financial's earnings surpassed expectations, buoyed by fee income and net interest income that outperformed consensus, while expenses met predictions.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
