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Upgrade Alert for PNC Financial Services (PNC)

By Nick Russo

PNC Financial Services (NYSE:PNC) was upgraded from Equal Weight to Overweight at Stephens today. The stock closed yesterday at $82.43 on volume of 2.1 million shares, below average daily volume of 2.3 million.

Potential upside of 21.0% exists for PNC Financial Services, based on a current level of $82.42 and analysts' average consensus price target of $99.73. The stock should run into initial resistance at its 50-day moving average (MA) of $85.41 and subsequent resistance at its 200-day MA of $89.69.

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.

In the past 52 weeks, shares of PNC Financial Services have traded between a low of $77.40 and a high of $100.52 and closed yesterday at $82.42, which is 6% 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 its subscribers protect gains by selling shares of PNC Financial Services on June 14th, 2016 by issuing a Downtrend alert when the shares were trading at $85.29. Since that call, shares of PNC Financial Services have fallen 3.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades PNC Financial Services

Ticker(s): PNC