Capital One price target lowered to $234 from $236 at BofA

BofA analyst Mihir Bhatia lowered the firm’s price target on Capital One (COF) to $234 from $236 and keeps a Buy rating on the shares. On operating expenses, Capital One’s Q1 results were “quite solid,” though net interest margin and credit provisions were sharply weaker than forecast and drove an earnings miss, the analyst tells investors. The firm remains constructive longer-term on Capital One’s transformation as it integrates its Discover and Brex acquisitions, the analyst added.