Capital One upgraded at Nomura As previously reported, Nomura upgraded Capital One to Buy from Neutral. The firm upgraded shares based on shares underperformance, expectations for a resumption in loan growth and lower intangible amortization which should act as a tailwind to earnings. Price target raised to $94 from $75.
Oversold bank stocks due for a bounce, says Baird Following the worst quarter for the S&P 500 and for the KBW Nasdaq Bank Index since the third quarter of 2011, Baird analyst David George contends that "broadly oversold" bank stocks are due for a bounce. The analyst believes that even in-line results should help improve the bearish sentiment on the sector and could see bouncebacks for defensive names like JPMorgan (JPM), PNC (PNC) and BB&T (BBT) as well as for higher-beta names like Bank of America (BAC) and Capital One (COF).