Nomura Securities Maintains a 'Buy' on Capital One Financial (COF); Possible Deal with ING Direct
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Price: $221.45 -2.59%
Rating Summary:
28 Buy, 14 Hold, 2 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
28 Buy, 14 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Nomura Securities maintains a 'Buy' on Capital One Financial (NYSE: COF).
Nomura analyst, Brian Foran, said, "Press reports (including the Wall Street Journal) continue to imply CapOne may buy ING Direct. We believe that financially the deal would not be so bad with mid single-digit EPS accretion. Current consensus estimates do not factor in any material capital deployment, so this would be a source of modest upside to numbers, in our view. That said, the stock would not follow the EPS upside as CapOne could create the same accretion with less risk by buying back stock. Moreover, it would reinforce concerns that CapOne is a serial acquirer."
For more ratings news on Capital One Financial click here and for the rating history of Capital One Financial click here.
Shares of Capital One Financial closed at $48.43 yesterday.
Nomura analyst, Brian Foran, said, "Press reports (including the Wall Street Journal) continue to imply CapOne may buy ING Direct. We believe that financially the deal would not be so bad with mid single-digit EPS accretion. Current consensus estimates do not factor in any material capital deployment, so this would be a source of modest upside to numbers, in our view. That said, the stock would not follow the EPS upside as CapOne could create the same accretion with less risk by buying back stock. Moreover, it would reinforce concerns that CapOne is a serial acquirer."
For more ratings news on Capital One Financial click here and for the rating history of Capital One Financial click here.
Shares of Capital One Financial closed at $48.43 yesterday.
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