Capital One Financial's Q2 2023 Earnings Exceed Estimates: Price Targets Adjusted Across the Board

Analysts raised the price target at Capital One Financial Corp COF after the company reported Q2 2023 results.

Capital One said second-quarter revenue increased 1% Y/Y to $9.01 billion, which missed the consensus estimate of $9.12 billion, and reported quarterly earnings of $3.52 per share, which beat analyst estimates of $3.22. 

At an Underweight rating, Morgan Stanley raised the price target to $92 from $86 and Stephens & Co. to $87 from $80

Stephens analyst Vincent Caintic revised adjusted EPS estimates to $12.02 (from $11.20) in 2023, $12.37 (from $13.34) in 2024, and $15.52 (from $16.16) in 2025. 

Wells Fargo increased the price target to $127 from $110 at an Overweight rating.

The analyst increased the EPS estimate to $12.46 (from $12.30) for 2023 and lowered it to $14.75 (from $15.05) for 2024. 

Piper Sandler upped the price target to $115 from $112 with a Neutral rating.

Citigroup upped the price target to $130 from $124, maintaining a Buy rating.

Price Action: COF shares are trading higher by 0.90% at $116.01 on the last check Friday.

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