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Fly News Breaks for July 5, 2017
COF
Jul 5, 2017 | 06:45 EDT
Wedbush analyst Henry Coffey downgraded Capital One to Underperform and slashed its price target to $80 from $94 saying ROE from operations is much lower than expected, and return on capital measures are sub-optimal. The analyst is not confident that the increase in card-related charge-offs will stop and said profitability is constrained by the higher overhead associated with its branch system and lower returns generated by other business lines.
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