BMO Capital analyst James Fotheringham lowered the firm’s price target on Capital One to $141 from $152 but keeps an Outperform rating on the shares. The analyst cites the company’s Q4 earnings miss driven by credit costs, also reducing its FY23 EPS outlook to $13.83 from $15.81 on higher expected credit provision. Capital One is prudent in building reserves to account for "fundamental credit deterioration, macroeconomic uncertainty, and growth math", the firm tells investors in a research note.
Published first on TheFly
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- Capital One price target lowered to $120 from $124 at JPMorgan
- Capital One Reports Fourth Quarter 2022 Net Income of $1.2 billion, or $3.03 per share
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