Jim Cramer on Capital One: “I Feel Emboldened on This One”

Capital One Financial Corporation (NYSE:COF) is one of the stocks in Jim Cramer’s recent game plan. Cramer said that the company’s earnings report “could be a good one,” as he commented:

“After the close, we get results from another investing club number. Oh boy, is this a controversial one. It’s called Capital One, and I have to tell you, I feel emboldened on this one after that terrific American Exress quarter. Remember, this is another credit card company. Could be a good one. The first quarter that should take into account the acquisition of Discover. Boy, do I want to be on that call.”

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Capital One Financial Corporation (NYSE:COF) provides banking and lending services, including credit cards, consumer and commercial loans, and deposit products. On September 30, a caller inquired about the stock, noting its decline and downward revision of price target by some analysts. In response, Cramer said:

“Yeah, look, I think that this move is an overreaction. I think that periodically, people think that as the economy gets weaker, this is the one to bet against. I would tell you that when the rate, when the economy gets weaker and the Fed moves and cuts rates, this is the one you want to buy. So I think these people are being very shortsighted. I don’t think they understand who really runs this bank because Fairbank’s really unbelievable. I think the stock deserves to be at the 230 range. I would be a buyer heavily here. I think these analysts are going to miss the next big move, and they’re making a major mistake, and I’m calling them out on it.”

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Disclosure: None. This article is originally published at Insider Monkey.