Barclays Raises Price Target On Capital One Following Q2 Results

Early Friday morning, Barclays analyst Jason Goldberg issued a note in which he raised the price target on Capital One Financial COF from $86 to $93 following the companies Q2 earnings beat.

Goldberg currently rates Capital One at Overweight and has a Positive industry view.

In conjunction with the increased price target, Goldberg has also raised his 2014 EPS estimate from $7.30 to $7.55.

According to Goldberg, the beat came on the back of a lower-than-expected loan loss provision, fee income and a decline in the company's tax rate. He also pointed out that the company benefited from NCO improvement, domestic card growth and active share repurchases.