Nomura Securities Maintains a 'Buy' on Capital One Financial (COF); Raising PT

April 24, 2012 9:45 AM EDT
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Price: $87.34 +0.71%

Rating Summary:
    16 Buy, 16 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Nomura Securities maintains a 'Buy' on Capital One Financial (NYSE: COF) price target raised from $54 to $60.

Analyst, Brian Foran, said, "While 2012 numbers will remain very noisy, we continue to see $6.50 of EPS in 2013 on a GAAP basis and over $7 on a cash basis. As a result, we maintain our rating and roll forward our price target to 2013, resulting in a $60 target using a 9x multiple. Lastly, we do a deep dive on loan growth seasonality and find that store card has 2-3x the seasonality of regular card business, implying every year COF will have best-in-class month-on-month loan growth in 4Q and worst-in-class loan growth in 1Q."

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 $54.08 yesterday.

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