Market Overview

UPDATE: Goldman Sachs Upgrades Capital One Financial to Buy on Upside Potential

Related COF
Bank Stock Roundup: Restructuring and Earnings Dominate Headlines; SunTrust, Comerica & Citi in Focus
Morgan Stanley Jumps On Upbeat Results; Athenahealth Shares Dip
Auto Sales Fueled by … Subprime Loans (Fox Business)

Goldman Sachs upgraded Capital One Financial (NYSE: COF) from Neutral to Buy and announced a $75.00 price target.

Goldman Sachs said, "We upgrade COF to Buy from Neutral with 21% upside to our $75 price target. We see shares outperforming due to (1) upside to out-year estimates from expense leverage as acquisition related costs subside; and (2) upside from capital returns. While 2013 is a transition year, we see room for a meaningful increase in 2014 ($2 dividend and $2bn buyback). While we are not making a “multiple expansion call”, stocks that can make the transition tend to be rewarded with higher valuations (average two points on P/E)."

Capital One Financial closed at $61.99 on Friday.

Latest Ratings for COF

DateFirmActionFromTo
Oct 2014OppenheimerMaintainsOutperform
Jul 2014UBSMaintainsBuy
Jul 2014BarclaysMaintainsOverweight

View More Analyst Ratings for COF
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (COF)

Around the Web, We're Loving...

Get Benzinga's Newsletters