UPDATE: Wedbush Starts Capital One Financial (COF) at Neutral
- Wall St. opens higher as M&A activity boosts confidence
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Pre-Open Stock Movers 10/24: (BEAV) (JPEP) (HLT) Higher; (BAS) (INO) (ADRO) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
(Updated - October 11, 2016 7:35 AM EDT)
Wedbush initiated coverage on Capital One Financial (NYSE: COF) with a Neutral rating and a price target of $78.00.
Analyst Henry Coffey Jr. commented, "We are initiating coverage on Capital One Financial Corp. (COF) with a NEUTRAL rating and a $78.00 price target. COF is one of the big five card issuers. While we can look past recent reserve cost tied to the growth in credit card balances, we believe upside is limited due to the lower returns of its commercial lending business and structural cost tied to its branch footprint. Our rating reflects this and our price target factors in the lower growth that could result from these two offsetting factors."
Shares of Capital One Financial closed at $73.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Seaport Global Securities Starts Canadian Pacific Railway Limited (CP) at Buy
- Jefferies Raises Price Target on FMC Technologies (FTI) After Adjusting Estimates
- BMO Capital Remains Cautious on Bristol-Myers Squibb (BMY) Despite Decline; PT Lowered to $56
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!