JPMorgan Upgrades Ally Financial (ALLY) to Neutral

JPMorgan analyst Richard Shane upgraded Ally Financial (NYSE: ALLY) from Underweight to Neutral with a price target of $45.00 (from $39.00).

The analyst comments: "Upgrading to Neutral from Underweight: Our upgrade to Neutral acknowledges that our views on ALLY’s credit, NIM, and multiple trajectory have been overly conservative. As the impact of less profitable vintages wanes (2021 and 2022) and are replaced by higher yielding pools, risk-adjusted margins should steadily improve. Increased visibility on ALLY’s depository pricing power could become an important catalyst."

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 $39.84 yesterday.

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