Zacks Investment Research upgraded shares of Washington Federal Inc. (WAFD) from NEUTRAL to OUTPERFORM on September 04, 2013, with a target price of $22.50.
We have upgraded our long-term recommendation on Capital One to Outperform based on consistent improvement in its asset quality and efficient capital deployment activities. The company's fiscal third-quarter 2013 earnings were marginally ahead of the Zacks Consensus Estimate. Results were primarily driven by higher other income, partially offset by a decline in net interest income and higher operating expenses. Though the company has been enjoying the benefits of lower interest rates, going forward its deposit re-pricing effort will be challenged with improvement in the interest rates. Further, we remain concerned about the company's considerable exposure to real estate markets, which are highly perilous. Nevertheless, continued capital deployment activities, strategic acquisitions and balance sheet restructuring plans are expected to boost investors' confidence.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Washington Federal Inc. (WAFD),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment