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Capital One resumed with an Overweight at Morgan Stanley

Morgan Stanley resumed coverage of Capital One (COF) with an Overweight rating and $261 price target The firm views the company’s acquisition of Discover as a “game-changer.” The deal will bring meaningful accretion from network ownership and other synergies, the analyst tells investors in a research note. Morgan Stanley sees additional share upside for Capital One from synergies and a ramp in capital return.

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