Morgan Stanley Raises Capital One Financial Corporation (COF)'s Price Target

Capital One Financial Corporation (NYSE:COF) is among the 10 Best Mobile Payments Stocks to Buy Now. Morgan Stanley raised its price objective for Capital One Financial Corporation (NYSE:COF) to $267 from $261 on September 29, maintaining an Overweight rating. According to analyst Jeffrey Adelson, the company changed its assessment of the North American consumer finance group from cautious to in line.

Adelson pointed out that despite a slowdown in hiring, interest rates are declining, and short-term credit performance is getting better. These factors minimize the chance that consumer finance equities will decline. As Morgan Stanley advanced its models to 2027, it also increased pricing projections for the sector.

Capital One Financial Corporation (NYSE:COF) has a strong position to benefit from improving credit trends. Morgan Stanley’s research note states that the revised modeling and sector upgrading are reflected in the new target price of $267. It is among the Best Digital Money Stocks.

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