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6 pts

Opinion on  The PNC Financial Services Group Inc. (PNC)     Sector: Financial  >  Industry: Regional Banks
I like mid-sized financials before Fed's move to cut rate

Sep 13, 2007 12:18 AM GMT
Return Risk
-3.03% HIGH
Associate

I believe that the financials have been beaten down too much amid extreme pessimism that the economy will enter into recession due to severe credit crunch.

With Fed now poised to ease, mid-size banks may be in a sweet spot to benefit from increased NIM and economy that is slowing but not entering into recession.

PE multiple may expand from extremely d epressed level.  I like PNC at this level.


PNC:  This call was made on 09/13/07 @ $69.02
Rating:   Positive   $69.02 (09/13/07)
Gain/Loss:   -17.60% in 804 days
Target:   $75.00 (+8.66%) in > one year


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