Wells Fargo Upgrades Capital One Financial (COF) to Outperform; Recently Announced Deals Increase EPS Visibility

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August 11, 2011 7:34 AM EDT
Get Alerts COF Hot Sheet
Price: $227.34 +1.57%

Rating Summary:
    28 Buy, 14 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Wells Fargo upgraded Capital One Financial (NYSE: COF) from Market Perform to Outperform with a price target range raised to $54-$60 from $53-59.

Wells analyst says, "We believe COF's recently announced acquisitions of ING Direct and HSBC's credit card portfolio greatly improve EPS visibility through 2013. We are fine tuning our 2012 estimate to $6.00 from $5.92. However, based on accretion estimates for both deals, we believe COF is likely to deliver EPS well in excess in of $6.00 in 2013."

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 $41.05 yesterday.

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