Citi Reiterates Buy on Capital One Financial (COF)

Citi is out with its report today on Capital One Financial COF, reiterating Buy. In a note to clients, Citi writes, "Overall, April results were solid with further improvement in credit and stabilization in US Card balances. Despite the strong YTD performance (+23% vs. BKX -5%), we see more upside potential. Reiterate our Buy rating as we see COF as well positioned to compete in the card business and leveraged to an economic recovery." Citi maintains a $60 PT on COF. Shares of COF closed Friday at $52.34, down 1.15% from Thursday's close.