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Fly News Breaks for November 19, 2018
CMA, BBT, PNC
Nov 19, 2018 | 07:33 EDT
As reported earlier, BMO Capital analyst Lana Chan downgraded PNC Financial (PNC) to Market Perform from Outperform and kept her $139 price target. The analyst says that the stock is approaching her prior $139 per share forecast and sees the company as challenged in gaining market share through expansion given the competition from other Universal banks. Chan adds that PNC Financial "already trades at a slight premium to the Regional P/E median", giving preference to more attractively valued BB&T (BBT) and Comerica (CMA).
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