Ally Financial price target raised to $38 from $37 at BofA

BofA analyst Brandon Berman raised the firm’s price target on Ally Financial (ALLY) to $38 from $37 and keeps a Buy rating on the shares after having hosted virtual meetings with CFO Russ Hutchinson. The firm would describe management’s demeanor as “unwavering confidence in bank’s structural position to deliver on medium-term mid-teens ROTCE target despite near-term headwinds,” the analyst tells investors following the meetings.