John McDonald Lowers PNC Price Target, Notes Macro and Structural Headwinds

The PNC Financial Services Group, Inc. (NYSE:PNC) is included among the 14 Safest Stocks with Highest Dividends.

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On March 26, Truist analyst John McDonald lowered the firm’s price recommendation on The PNC Financial Services Group, Inc. (NYSE:PNC) to $234 from $240. It maintained a Hold rating on the shares. The update came as part of a broader note on regional and universal banks. The analyst said that sentiment around bank stocks has been weighed down by macro concerns and structural pressures, including war, interest rates, stagflation, AI displacement, and private credit. Even so, recent updates on the quarter have been fairly positive. He added that management commentary has sounded constructive when looking at the full year ahead.

On the same day, Jefferies initiated coverage of PNC with a Buy rating. It also set a $250 price target on the stock. The firm launched coverage on seven money-center and super-regional banks, naming Wells Fargo as its top pick. Jefferies pointed to expectations for a “strong and expanding” return on tangible common equity. It also highlighted above-average growth in net interest income as a key reason behind its positive view on the stock.

The PNC Financial Services Group, Inc. (NYSE:PNC) is a diversified financial services company in the United States. It offers retail and business banking, covering a wide range of lending products. The company also provides specialized services to corporations and government entities, including corporate banking, real estate finance, and asset-based lending. In addition, it operates wealth management and asset management businesses.

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