Jefferies Lowers Numbers on Capital One Financial (COF) But Says Stock is Cheap

February 26, 2013 6:53 AM EST
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Price: $88.85 +1.09%

Rating Summary:
    16 Buy, 16 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies lowered estimates and its price target on Capital One Financial (NYSE: COF) from $67 to $60 but maintained a Buy rating saying the stock looks cheap here.

"We're lowering our FY'13 EPS estimate to $6.33 from $6.72 and our FY'14 EPS estimate from $7.16 to $6.56 due primarily to the $7B Best Buy card portfolio sale," the analyst notes. "With a good bit of bad news (Jan credit hiccup, CFO departure, Best Buy sale) priced into the stock currently, we see upside from current levels. COF currently trades at ~8x our FY'14 estimate, a 3 turn discount to other regional banks."

For an analyst ratings summary and ratings history on Capital One Financial click here. For more ratings news on Capital One Financial click here.

Shares of Capital One Financial closed at $50.80 yesterday.

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