J.P. Morgan analyst Richard Shane maintains $Capital One Financial (COF.US)$ with a hold rating, and adjusts the target price from $157 to $162.
According to TipRanks data, the analyst has a success rate of 64.0% and a total average return of 11.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Capital One Financial (COF.US)$'s main analysts recently are as follows:
Capital One's third-quarter earnings per share of $4.51 surpassed the anticipated consensus estimate, primarily due to an increase in net interest income and a reduction in provisions. The quarterly report provided a positive outlook with better-than-expected loss rates, a decrease in the reserve rate from the previous quarter, and consistent purchase volume growth, indicating a comparatively robust consumer condition.
The company has delivered a robust quarter with revenue trends contributing positively to earnings. Additionally, management has expressed confidence in the macroeconomic conditions while maintaining a commitment to growth. Although credit losses for the company are slightly elevated compared to pre-pandemic levels, there is perceived stability within the core business.
The company's core pre-provision net revenue trends are slightly above expectations, with reserve releases contributing to the earnings per share surpassing estimates.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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