Morgan Stanley raised the firm’s price target on Ally Financial (ALLY) to $45 from $41 and keeps an Overweight rating on the shares after Ally “stuck the landing on credit,” noting that Q4 auto net charge offs came in 35 basis points below the firm’s estimate and 44 points below consensus. The announced sale of the company’s credit card unit shows the new CEO is “executing, refocusing & simplifying the business,” the analyst added.
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Read More on ALLY:
- Ally Financial price target raised to $41 from $40 at TD Cowen
- Ally Financial price target raised to $45 from $41 at RBC Capital
- Ally Financial price target raised to $43 from $40 at JPMorgan
- Ally Financial price target raised to $34 from $32 at Wells Fargo
- Ally Financial’s 2024 Earnings: A Mixed Performance
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