UBS (NYSE:UBS) Places "Short-Term Buy" on PNC Financial (NYSE:PNC)

PNC Financial (NYSE:PNC) has a "Short-term Buy" placed on them by UBS (NYSE:UBS), who feels consensus in the near term is too negative.

UBS said, "We think consensus estimates are too negative, and PNC will beat by 6% due to better lending revs (UBSe of $1.43 vs. consensus of $1.35). Also, PNC underperformed the bank index by 3.5pp in Dec ‘10. But we are maintaining our L/T Neutral rating, as we believe lending revenues will be under greater pres sure beyond 4Q10."

UBS maintains a "Long-Term Neutral" rating on PNC Financial, which was trading at $62.69, up $0.88, or 1.44 percent.