Capital One price target raised to $132 from $120 at UBS

UBS analyst Erika Najarian raised the firm’s price target on Capital One to $132 from $120 and keeps a Neutral rating on the shares. After Q3 results showed promise that credit trends were in the early stages of stabilization, management made its message clear in Q4 that stabilization had been achieved, the firm says in a research note on Friday. UBS believes the ongoing trends are encouraging, though it remains on the sidelines given it still assumes the macro backdrop weakens, and thinks it needs clarity on the company’s profitability path once late fee regulations are finalized.