PNC Bank Earnings Beat On Higher Interest Income

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  • #22161
    ThePitBoss
    Participant

    PNC Financial report second quarter earnings before the…

    [article]1764[/article]

    #22457
    MoneyNeverSleeps
    Participant

    RBC Upgrades Banking Sector to Outperform

    The Federal Reserve indicated that it would not engage in further interest rate increases for the remainder of 2019. While the Federal Reserve’s decision comes on the heels of sluggish economic reports, we remain constructive on the overall macro picture, and contend that banks are positioned to perform well in the current environment. We believe that for many market participants, current expectations are anchored in the recency of the 2004-2006 period, despite the dissimilarity of the current period with the former, in our view. Looking back at prior interest rate cycles, we believe the current environment shares more in common with 1994-1998 than 2004-2008.

    RBC analysts rate PNC Outperform.with a price target for the shares of $150

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