BofA/Merrill Lynch Starts Ally Financial (ALLY) at Neutral

BofA/Merrill Lynch initiates coverage on Ally Financial (NYSE: ALLY) with a Neutral rating and a price target of $26.00.

Analyst Kenneth Bruce said the company could generate ~17% Adj. EPS growth by 2015. That said, near-term competitive headwinds suggest it is likely to produce only a sub-par ROE for the foreseeable future, which could restrain valuation.

For an analyst ratings summary and ratings history on Ally Financial click here. For more ratings news on Ally Financial click here.

Shares of Ally Financial closed at $24.45 yesterday.

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