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Downgrade Alert for PNC Financial Services (PNC)

By David Diaz

PNC Financial Services (NYSE:PNC) was downgraded from Buy to Neutral at Nomura today. The stock closed yesterday at $91.69 on volume of 2.4 million shares, above average daily volume of 2.3 million.

PNC Financial Services Group, Inc. is a diversified financial services organization. The Company provides regional banking, wholesale banking, and asset management services nationally and in the Company's primary regional markets.

There is potential upside of 8.8% for shares of PNC Financial Services based on a current price of $91.69 and an average consensus analyst price target of $99.73. The stock should find initial support at its 200-day moving average (MA) of $89.69 and further support at its 50-day MA of $85.41.

In the past 52 weeks, PNC Financial Services share prices have been bracketed by a low of $77.40 and a high of $100.52 and closed yesterday at $91.69, 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of PNC Financial Services on August 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.60. Since that recommendation, shares of PNC Financial Services have risen 5.6%. We continue to monitor PNC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades PNC Financial Services

Ticker(s): PNC