Truist initiated coverage of Ally Financial (ALLY) with a Buy rating and $42 price target With the company guiding losses higher and opening the door to a shakier path for net interest margin expansion it has been a “rough ride recently,” but the stock now trades at a 10% discount to current tangible book value, notes the analyst, who expects Ally’s tangible book value to grow by about 20% over the next two years.
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