Capital One Downgraded at Goldman Sachs (COF)

in Gold Gold Investment by admin — March 5, 2010 7:04 am | no comments

Banking company Capital One Financial Corp. ( COF ) on Friday saw its rating and price target cut by analysts at Goldman Sachs. The analyst lowered its rating on COF to “Neutral” from “Buy,” citing the company’s exposure to credit card late fees and loan contraction. Goldman also cut its price target on the stock, which had closed at $36.84 on Friday, to $45 from $50. Capital One shares fell 38 cents, or -1%, in premarket trading Friday. The Bottom Line Shares of COF have a dividend yield of .54%, based on last night’s closing stock price of $36.84. The stock has technical support in the $30-$34 price area. If the shares can firm up, we see overhead resistance around the $40 price level. We would remain on the sidelines for now. Capital One Financial Corp. ( COF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .