Shareholders voted to approve the former's acquisition of the latter
Financial services giants Capital One Financial Corp (NYSE:COF) and Discover Financial Services (NYSE:DFS) are in the spotlight, after shareholders voted to approve the former's acquisition of the latter. COF was last seen 1.3% higher at $205.51, and DFS is up 0.8% at $197.82 at last glance.
In response to today's headlines, BofA Global Research upgraded COF to "buy" from "neutral," and raised its price target to $235 from $207. The shares boast a 47.6% year-over-year lead, and are on track for their fourth consecutive gain. Support presents at the $190 region, recently containing a pullback from their Jan. 30, record high of $208.63.
DFS sports a 57.8% year-over-year lead, and already added 13.3% so far in 2025. The stock is also eyeing a fourth-straight gain, as it moves closer to its Jan. 30, all-time high of $205.76, following a bounce off long-term support from their 50-day moving average.
Options traders lean bullish on both COF and DFS. This is per the stocks' 50-day call/put volume ratios of 1.08 and 1.47 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sit higher than 75% and 77% of readings from the past year, respectively.