Truist raised the firm’s price target on Ally Financial (ALLY) to $47 from $42 and keeps a Buy rating on the shares after its Q4 earnings beat. The firm is citing better charge-offs and provision expenses, offset by lower net interest income, lower other revenues and higher noninterest expenses, also noting that the main driver for higher assumed Tangible Book Value Per Share is due to the benefits from credit card loan sale, the analyst tells investors in a research note.
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