BofA analyst Mihir Bhatia downgraded Capital One (COF) to Neutral from Buy with a price target of $200, down from $203. Shares have rallied following the election as investors believe the potential Discover (DFS) deal will be more likely to close as the Trump administration is considered to be more accommodative to M&A, the analyst tells investors. While merger closing prospects have improved and execution has been “solid,” the firm now views the risk/reward as more balanced, the analyst added.
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