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Capital One price target raised to $115 after earnings beat at Sandler O'Neill.

Sandler O'Neill analyst Christopher Donat raised his 2018, 2019 and 2020 EPS estimates for Capital One after the company's Q3 core EPS beat, which he was driven by a lower than expected provision for credit losses and net interest income that increased 4% from Q2. Separate from the earnings release, Capital One disclosed that its domestic card net charge off ratio was 4.13% in September, which was below Donat's expectation of 4.46%. He views the year-over-year charge off decrease as further evidence of "the end of the negative parts of growth math," added Donat. He raised his price target on Capital One shares to $115 from $113 and keeps a Buy rating on the shares.

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Publication:The Fly
Date:Oct 24, 2018
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