UBS reiterated its Buy rating on PNC Financial Services Group with a price target of $263 following meetings with senior leadership. Analyst Erika Najarian met with CEO Bill Demchak, President Mark Wiedman, CFO Rob Reilly and other executives, and the firm said it had not been this impressed with a management team since its meeting with Morgan Stanley in June 2025. UBS believes PNC should be seen as an emerging national bank valued like a regional bank, and that if it reaches a return on tangible common equity of about 20%, its valuation looks attractive compared with global systemically important banks. The firm also sees room for earnings per share upgrades and multiple expansion, along with strong backing from long-term investors.
PNC Financial Services Group IncUBS reiterated Buy rating and $263 price target, citing attractive valuation and potential for EPS upgrades.
Morgan Stanley