Jim Cramer on Capital One: “I Would Be a Buyer Heavily Here”

Capital One Financial Corporation (NYSE:COF) is one of the stocks Jim Cramer was recently focused on. A caller inquired about the stock, noting its recent decline and that two analysts had lowered their price targets. 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.”

Photo by Adam Nowakowski on Unsplash

Capital One Financial Corporation (NYSE:COF) provides banking and financial services, including credit cards, consumer and auto loans, real estate and commercial lending, and deposit accounts. The company also offers digital banking, advisory, and treasury services.

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