The Trump Organization, which is owned by President Donald Trump, has filed a lawsuit against Capital One (COF). Indeed, the Trump Organization alleges that the bank wrongfully closed over 300 company accounts in 2021. This move, according to Eric Trump, who is Donald Trump’s son and executive vice president, was a clear attack on free speech and free enterprise.
Eric Trump took to social media platform X to state that the account closures were not only damaging to the Trump Organization but also part of a broader move to silence and undermine the company’s success. By targeting the Trump Organization, Eric Trump believes that Capital One is also targeting those who share their political views.
The lawsuit, which was filed in Miami-Dade County, Florida, is looking to receive compensation for the millions of dollars in damages that were caused to the company, its properties, tenants, and employees. As a result of the lawsuit, shares of Capital One are down in today’s trading.
Is COF Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on COF stock based on nine Buys, seven Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 28% rally in its share price over the past year, the average COF price target of $213.07 per share implies 23% upside potential.
