Capital One price target lowered to $215 from $257 at Truist

Truist analyst Brian Foran lowered the firm’s price target on Capital One (COF) to $215 from $257 and keeps a Buy rating on the shares as part of a broader research note Credit Card and Bank names. The firm is updating its models by taking into account recent conference updates, monthly credit data, and changes in cost of equity across the market, the analyst tells investors in a research note. Capital One’s reduced price target reflects increased deal risk leading to lesser network synergy realization probability as well as increased cost of equity from general macro uncertainty, Truist adds.