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Fly News Breaks for January 9, 2020
PNC
Jan 9, 2020 | 06:26 EDT
BofA analyst Erika Najarian upgraded PNC Financial to Buy from Neutral with a price target of $178, up from $144. In a research note to investors, Najarian says she views PNC as the "regional bank version" of JPMorgan (JPM) -- the combination of a fortress balance sheet and above-peer growth prospects, but with excess capital. The analyst says the combination of 5% EPS growth and capital return potential at ~10% of market cap should support premium valuations on both earnings and book and drive further outperformance.
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