BofA analyst Mihir Bhatia lowered the firm’s price target on Capital One to $120 from $122 and keeps a Neutral rating on the shares. The company’s portfolio mix of subprime card, auto, and commercial real estate loans are "all areas of concern in the current backdrop," but the firm believes weaker credit outcome scenarios are "adequately reflected in valuation," BofA tells investors in its Q1 earnings preview note for the credit card issuers.
Published first on TheFly
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