PNC Financial Services Group Inc

PNC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$679.00	Ypsvdh	Gschfdvbh

PNC: No Longer Our Preferred Investment Idea After Recent Stock Gains; Maintaining Valuation

Suryansh Sharma ,

Feb 6, 2024

Narrow-moat-rated PNC Financial Services is no longer our preferred investment idea among the regional U.S. banks as the company's share price has rallied around 35% since hitting its 52-week low back in October 2023. We do not plan to materially change our $175 per share fair value estimate for PNC as we fully incorporate the bank's fourth-quarter results. While the company is still trading at around a 15% discount to our fair value estimate, the margin of safety has narrowed substantially the past few months.

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