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COF

Capital One

$71.83

1.47 (2.09%)

, CAB

Cabela's

$54.93

1.38 (2.58%)

08:23
10/03/16
10/03
08:23
10/03/16
08:23

Capital One to be exclusive long-term card issuing partner with Cabela's

Capital One Financial (COF) announced that it has entered into a 10-year program agreement to become the exclusive issuing partner of co-branded credit cards to Cabela's (CAB) customers. This agreement will become effective concurrent with Bass Pro Shops' completion of its proposed acquisition of Cabela's that was announced earlier. In connection with the Cabela's credit card program, Capital One has entered into a definitive agreement under which it will acquire the credit card operation from Cabela's, including approximately $5.2B in credit card receivables and other assets and approximately $5B in associated funding liabilities. Capital One will acquire Cabela's credit card operations for par value of the credit card receivables, less the par value of assumed liabilities. The agreement includes revenue and loss sharing provisions for the ongoing credit card program. Capital One expects this partnership to provide a strong platform for future growth and returns in its Partnerships credit card business. Capital One does not expect this acquisition to impact its approved capital distribution plan described in its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2016.

COF

Capital One

$71.83

1.47 (2.09%)

CAB

Cabela's

$54.93

1.38 (2.58%)

  • 23

    Oct

  • 25

    Oct

COF Capital One
$71.83

1.47 (2.09%)

06/14/16
EVER
06/14/16
NO CHANGE
EVER
Synchrony warning has a negative read through for Capital One, says Evercore ISI
07/08/16
DADA
07/08/16
UPGRADE
Target $76
DADA
Buy
Capital One upgraded to Buy from Neutral at DA Davidson
DA Davidson analyst Arren Cyganovich upgraded Capital One Financial to Buy citing an attractive valuation, stable credit quality and loan growth. The analyst views credit concerns as overblown. He has a 12-18 month price target of $78 and a 5-year price target of $105.
07/08/16
07/08/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Intel (INTC) upgraded to Market Perform from Underperform at Bernstein with the firm saying the company's second quarter results and third quarter guidance are unlikely to come in below consensus estimates, given the firm's relatively positive outlook for the PC channel and baseband markets. 2. Comerica (CMA) upgraded to Market Perform from Underperform at Wells Fargo with analyst Matthew Burnell saying lower rates are more adequately reflected in the valuation at current levels, and the company will announce a detailed profit improvement plan in mid-July. 3. Capital One (COF) upgraded to Buy from Neutral at DA Davidson with analyst Arren Cyganovich citing an attractive valuation, stable credit quality and loan growth. 4. Patterson-UTI (PTEN) upgraded to Buy from Neutral at Seaport Global with analyst Mark Brown citing a more rapid recovery in pressure pumping operations toward full capacity, providing the most operational leverage to a recovery compared to its more land drilling focused peers. The analyst increased his price target to $24 from $18. 5. Range Resources (RRC) upgraded to Buy from Hold at Stifel with the firm saying the outlook for natural gas prices is improving, while the company's well production is increasing. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/25/16
RAFF
07/25/16
DOWNGRADE
RAFF
Hold
Capital One downgraded to Hold from Buy at Rafferty Capital
CAB Cabela's
$54.93

1.38 (2.58%)

12/16/15
RHCO
12/16/15
DOWNGRADE
RHCO
Neutral
Cabela's downgraded to Neutral from Buy at SunTrust
SunTrust analyst David Magee downgraded Cabelas to Neutral given the recent bounce in shares.
12/16/15
12/16/15
DOWNGRADE

On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Agency (AGNC) downgraded to Underweight from Equal Weight at Morgan Stanley... Anglo American (AAUKY) downgraded to Hold from Buy at Deutsche Bank... BOK Financial (BOKF) downgraded to Neutral from Overweight at Piper Jaffray... BT Group (BT) downgraded to Sell from Hold at Deutsche Bank... Cabela's (CAB) downgraded to Neutral from Buy at SunTrust... Carlyle Group (CG) downgraded to Hold from Buy at Deutsche Bank... Caterpillar (CAT) downgraded to Hold from Buy at Deutsche Bank... Dover (DOV) downgraded to Market Perform from Outperform at William Blair... General Dynamics (GD) downgraded to Neutral from Overweight at JPMorgan... GrubHub (GRUB) downgraded to Market Perform from Outperform at Northland... Heartland Payment (HPY) downgraded to Neutral from Buy at SunTrust... Jarden (JAH) downgraded to Sector Perform from Top Pick at RBC Capital... Kennametal (KMT) downgraded to Underperform from Neutral at Longbow... Liberty Property (LPT) downgraded on results at Stifel... Lonmin (LNMIY) downgraded to Sell from Buy at Deutsche Bank... Mid-America Apartment (MAA) downgraded to Sector Weight from Overweight at KeyBanc... Mistras (MG) downgraded to Neutral from Buy at Sidoti... Nabors Industries (NBR) downgraded on results at Argus... Nationstar (NSM) downgraded to Underweight from Equal Weight at Morgan Stanley... Norsk Hydro (NHYDY) downgraded to Hold from Buy at Deutsche Bank... Orexigen (OREX) downgraded to Hold from Buy at WallachBeth... RPX Corp. (RPXC) downgraded to Neutral at Baird... Swift Energy (SFY) downgraded to Neutral from Buy at Ladenburg... Terex (TEX) downgraded to Hold from Buy at Deutsche Bank... TransDigm (TDG) downgraded to Neutral from Overweight at JPMorgan... Zurich Insurance (ZURVY) downgraded to Hold from Buy at Jefferies.
03/30/16
MKMP
03/30/16
NO CHANGE
MKMP
Cabela's could be worth $65 in a buyout, says MKM Partners
Cabela's announced on December 2, 2015 that it had engaged Guggenheim as a financial advisor and was exploring strategic alternatives. MKM Partners analyst Patrick McKeever believes Cabela's could be worth $65 per shares on a buyout based on a reasonable multiple of 10x his estimated EBITDA of $504M.
07/06/16
DADA
07/06/16
NO CHANGE
DADA
Gun sales could continue to be strong through fall, says DA Davidson
Noting that firearm background checks jumped 28.6% year-over-year last month, DA Davidson attributes the surge to the Orlando terrorist attack and subsequent efforts to pass new gun control legislation. The firm thinks that continued pro-gun control rhetoric could create "a tailwind" for gun sales through the fall. DA Davidson says that Sportsman's Warehouse's (SPWH) valuation is attractive after the stock fell over 30% so far this year. It keeps a Buy rating on the shares. The firm keeps a Neutral rating on Cabela's (CAB). Smith & Wesson (SWHC) and Sturm, Ruger (RGR) manufacture guns.

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