BTIG analyst Vincent Caintic initiated coverage of Capital One (COF) with a Neutral rating as part of a broader research note launching coverage on Consumer Finance names. The firm is concerned about Capital One’s loss levels at both its Auto and Credit Card lending businesses, and expects the company’s fundamentals for both to continue to deteriorate through 2024, the analyst tells investors in a research note. Offsetting this negative view of Capital One on a standalone basis is its positive take on its pending acquisition of Discover (DFS), the firm added.
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