Goldman Sachs announced that they have upgraded financial services company, Capital One Financial Corp.(COF).
The firm has upgraded COF from “Neutral” to “Buy,” and has increased their price target for the company from $65 to $75. This price target suggests a 21% increase from the stock’s current price of $61.99
Analysts believe that the company will see an upside from expense leverage, and see the company increasing capital returns in 2014.
Capital One shares were mostly flat during premarket trading Monday. The stock has increased 27% in the past year.
The Bottom Line
Shares of Capital One Financial (COF) have a .32% dividend yield, based on Friday’s closing stock price of $61.99. The stock has technical support in the $56-$58 price area. If the shares can firm up, we see overhead resistance around the $64-$66 price levels.
Capital One Financial Corp.(COF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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