Since the global sell-off in late August, PNC Financial Services
(NYSE: PNC) has been slowly recovering. Before market slides, PNC was trading
at nearly $100.00 per share, just below our price target of ~$106.00. Despite
dropping to as low as $85.85 per share, the stock has appreciated to $91.94 in
the first half of September. Out investment thesis remains intact, with no
major news being reported in the first half of September. PNC continues to maintain
a very positive outlook from the Street as well, with an average analyst price
target of $99.89 per share.
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