UPDATE: Nomura Upgrades Capital One

In a note released Monday, Nomura analysts upgraded

from Neutral to Buy and raised the price target from $75 to $94. Looking forward, the analysts at Nomura say Capital One should benefit as loan growth resumes and P&L expense start to shift from headwinds to tailwinds. "We believe Capital One Financial still stands to benefit even without any help from the macro. It has been a long road, but the inflection point in card loan growth may finally be near," the analysts wrote. Capital One shares have seen a little bump of ~1.6 percent following the upgrade and were trading around the $82.20 mark at last check.