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Robert Baird Starts Coverage on Capital One with an “Outperform” Rating; Sees Better Margins Ahead (COF)

By Dividend.com,  October 12, 2012, 08:29:43 AM EDT

Credit card issuer Capital One Financial Corp. ( COF ) on Friday received some bullish commentary from analysts at Robert W. Baird.

The firm started coverage on COF with an "Outperform" rating and $70 price target, which suggests a 19% upside to the stock's Thursday closing price of $58.89.

A Robert Baird analyst noted he believes Capital One can begin to provide better returns, now that net interest margin pressures have been largely relieved.

Capital One shares, which have surged more than 39% year-to-date, were unchanged in premarket trading Friday.

The Bottom Line
Shares of Capital One Financial ( COF ) have a .34% dividend yield, based on last night's closing stock price of $58.89. The stock has technical support in the $53-$55 price area. If the shares can firm up, we see overhead resistance around the $62-$64 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.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: COF



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