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Piper Sandler is bullish on PNC Financial Services heading into its upcoming earnings report next week. Piper Sandler analyst Scott Siefers upgraded the regional bank to overweight rating from neutral. He also raised his price target to $220 from $211, signaling upside of 15.7%. Shares of PNC have slipped 1% on the year, offering an attractive entry point for a stock that usually trades at a premium, Siefers said. PNC YTD mountain PNC YTD chart “Despite strong fundamental performance, the shares have languished. They are basically flat YTD, and PNC is the second worst performing large regional we follow,” the analyst wrote. “Historically, PNC has traded closer to a one multiple premium. We see no reason that it should not sustain that premium.” Siefers pointed out that PNC’s fundamentals appear strong, especially heading into its third-quarter earnings report, due out before the market opens Wednesday. “Beyond our own thinking, we could have just pointed out that PNC’s 3Q25 mid-Q update suggested that the company is edging toward the upper end of the ranges management had provided in July,” he added. “PNC seems to have a solid stand-alone outlook into the next couple of years, too.” The analyst also highlighted PNC’s acquisition of FirstBank as another tailwind for the stock. This acquisition offers PNC additional flexibility, increases its scale and grows its access to low-cost deposits and a new market. PNC shares, which are down 1.4% year to date, gained 0.6% in the premarket following the upgrade. Analysts are mostly bullish PNC, with 18 of 24 rating it a buy or strong buy. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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