CORRECTED-BUZZ-Citi raises Capital One's PT on Q4 deposit growth expectation, stable delinquencies

Corrects company name in bullet 2 to "Discover Financial", not "Discovery Financial"

Citi raises PT for Capital One Financial COF.N to $245 from $225, citing greater-than-expected Q4 deposit growth and stabilized delinquencies

Brokerage says 2025 outlook hinges on timing of Discover Financial DFS.N deal; expects deal to close in late Q1

COF had agreed to acquire DFS in February 2024 in $35.3 bln all-stock deal to create global payments giant

New PT represents 20% upside to stock's last close

"We ultimately see DFS as key to unlocking long-awaited payoff from years of significant investment spend," Citi says

11 of 22 brokerages rate stock "buy" or higher, 11 "hold"; median PT is $215 - LSEG data

Stock rose 36% in 2024, compared with 33% increase in KBW Bank index .BKX