UPDATE: Citigroup Raises PT to $66 on Capital One Financial

Citigroup raises its price target $8 to $66 on Buy-rated Capital One Financial

following rise on shares recently. It also removes the stock from its Top Picks Live! list. Citigroup says, "We are removing COF from Top Picks Live! due to the stock outperformance and recognition of near-term factors that should keep gains more in-line with our other Buy-rated stocks. COF shares are up 35% YTD, ahead of the BKX +27% and S&P 500 +13%. And we expect earnings results to be noisy over the next few quarters due to the ING Direct/HSBC deals, plus investors may focus more on the overhang from the 54 mm shares now owned by ING. But to be clear, we still remain constructive on COF and believe they are extremely well positioned with an overweight position in the high ROA card business. We also believe COF will be in a position to repurchase some of the shares owned by ING in 2013." COF closed at $57.09 a share on Tuesday.