John McDonald Lowers PNC Price Target, Notes Macro and Structural Headwinds

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Truist analyst John McDonald lowered the price target for The PNC Financial Services Group, Inc. (NYSE:PNC) to $234 from $240, maintaining a Hold rating due to macro concerns and structural pressures on bank stocks. Despite these headwinds, recent quarterly updates have been positive, and management commentary for the full year remains constructive. Jefferies, however, initiated coverage with a Buy rating and a $250 price target, citing expectations for strong returns and above-average net interest income growth.

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