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BUZZ-PNC Financial rises after HSBC upgrades to 'buy'

Reuters
Apr 01, 2025
BUZZ-PNC Financial rises after HSBC upgrades to 'buy'

** Shares of U.S. bank PNC Financial Services PNC.N rise ~1% to $173.54

** HSBC upgrades PNC to "buy" from hold" following a recent pullback in the stock

** Brokerage says it now sees an attractive entry point for investors to add exposure to a "high quality banking institution"

** PNC is poised to deliver the strongest revenue growth in HSBC's coverage universe - brokerage

** HSBC trims PT on PNC to $202 from $206, implying a 17.5% upside to stock's last close

** 15 of 23 brokerages rate the stock "buy" or higher, 6 "hold" and 2 "sell"; median PT is $205 - data compiled by LSEG

** As of last close, PNC shares down 10.9% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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