UPDATE: Stifel Nicolaus Raises PT to $71 on Capital One Financial

Stifel Nicolaus increases its price target from $60 to $71 on Capital One Financial

on strong core fundamentals and 2013 dal upside. Stifel Nicolaus notes, "While we continue to believe COF earnings visibility will remain poor through 1H12, we expect upcoming 1Q12 results to showcase COF's unique combination of high-margin, organic loan/deposit growth and strong profitability. With ING closed and HSBC next, our pro forma segment-level earnings forecast projects $7.50 in core 2013 earnings power driven by outstanding credit quality, rising NIM, and improving efficiency. Given our view that COF will increasingly be compared to regional banks with weaker growth prospects yet higher multiples, we see considerable revaluation potential." COF closed at $54.02 yesterday.