Capital One PT raised to $225 by Citi Research

Discover Financial Services

21/11/2024 19:03

** Citi Research raises its PT on consumer lender Capital
One Financial  COF.N  to $225 from $190, a 24.5% upside to
stock's last close
    ** Brokerage says it continues to view COF's $35.3 bln
acquisition of credit card issuer Discover Financial Services
 DFS.N  as a way to unlock the long-awaited payoff, following
years of significant investment spend
    ** Citi believes the market is underestimating COF's
earnings potential after deal close
    ** COF core trends are strong in terms of well-positioned
balance sheet for lower rate, strong fee growth and deceleration
of growth in delinquencies
    ** As of last close, COF shares up 37.8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))