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Fly News Breaks for May 9, 2018
COF
May 9, 2018 | 09:34 EDT
BMO Capital analyst James Fotheringham lowered his price target on Capital One to $126, modeling lower net interest income from reduced loan balances that "more than offsets" higher stock repurchases after yesterday's announced sale of $17B in mortgage loans. The analyst also keeps his Outperform rating, adding that he sees upside for Capital One valuation multiple and positive indirect effects from the Tax Cuts and Jobs Act.
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