PNC Gains Cramer’s Nod After FirstBank Acquisition and Analyst Upgrades

Group 1 - The PNC Financial Services Group, Inc. is recognized as a recession-proof stock pick by Jim Cramer, following its acquisition of FirstBank for $4.1 billion [1][2] - The acquisition has led to an increase in the stock's price target, with Piper Sandler raising it and Wells Fargo subsequently increasing it from $230 to $240, indicating strong growth potential [2] - Institutional support is robust, with 66 hedge funds holding ownership interest in PNC [3] Group 2 - PNC operates as a diversified financial services institution, providing retail and business banking, as well as asset management across the U.S. [4] - The company has a market capitalization of approximately $80 billion and traces its roots back to 1845 in Pittsburgh [4]