BREAKING - PNC Financial Services to Acquire BBVA’s U.S. Arm for Over $10 Billion; Target Price $138

PNC Financial Services Group, one of the largest diversified financial services institutions in the United States, said it is in the advanced stage to acquire U.S. business of Spanish multinational financial services company BBVA for over $10 billion, according to the Wall Street Journal.

Eleven equity analysts forecast the average price in 12 months at $119.71 with a high forecast of $138.00 and a low forecast of $88.00. The average price target represents a -2.50% decrease from the last price of $122.78. From those 11 analysts, five rated “Buy”, five rated “Hold” and one rated “Sell”, according to Tipranks.

Morgan Stanley gave the base target price of 109 with a high of $154 under a bull-case scenario and $79 under the worst-case scenario. The firm currently has an “Equal-weight” rating on the diversified financial services organization’s stock. PNC Financial Services Group had its price objective hoisted by Credit Suisse Group to $117 from $115. Credit Suisse Group currently has a neutral rating on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. JP Morgan increased their price objective on shares of PNC Financial Services Group to $120 from $110 and gave the company an overweight rating. PNC Financial Services Group had its target price increased by Bank of America to $138 from $135. The brokerage currently has a buy rating on the financial services provider’s stock.

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