January 18, 2013 at 09:49 AM EST
BMO Capital Markets Increases Price Target for PNC (PNC)

BMO Capital Markets reported on Friday that they have increased their price target for financial services company, PNC Financial Services(PNC).

The firm, which currently has a “Market Perform” rating on PNC, has raised its price target to $67. This price target suggests a 8% increase from the stock’s current price of $61.67.

Analysts have increased their price target on the company based on higher than expected core revenue.

PNC shares were down 37 cents, or -0.60% during Friday morning trading. The stock has increased 3.5% in the past year.

The Bottom Line
Shares of PNC Financial (PNC) have a 2.58% dividend yield, based on last night’s closing stock price of $62.01. The stock has technical support in the $58-$60 price area. If the shares can firm up, we see overhead resistance around the $64-$66 price levels.

PNC Financial Services(PNC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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