PNC Misses but Margin Expansion Offers Hope (Update 1)

Mutascio said that his price target "represents 10.7x our 2013 EPS estimate of $6.90 and 1.5x our 4Q13 estimated tangible book value per share of $50.16, which we believe to be reasonable valuation metrics for a company that is generating above peer returns on average assets."

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-- Written by Philip van Doorn in Jupiter, Fla.

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