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Ally Financial (ALLY) Receives a Buy from Evercore ISI

Evercore ISI analyst John Pancari maintained a Buy rating on Ally Financial (ALLYResearch Report) yesterday and set a price target of $56.00. The company’s shares closed last Monday at $46.68.

According to TipRanks.com, Pancari is a 4-star analyst with an average return of 12.5% and a 63.3% success rate. Pancari covers the Financial sector, focusing on stocks such as Discover Financial Services, Capital One Financial, and Huntington Bancshares.

Ally Financial has an analyst consensus of Strong Buy, with a price target consensus of $63.33, representing a 37.2% upside. In a report issued on January 12, Wells Fargo also maintained a Buy rating on the stock with a $57.00 price target.

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Ally Financial’s market cap is currently $17.01B and has a P/E ratio of 5.62.

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Ally Financial, Inc. is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations. The Automotive Finance Operations segment offers retail installment sales contracts, loans and leases, offering term loans to dealers, financing dealer floorplans and other lines of credit to dealers, warehouse lines to companies, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles and equipment, and vehicle remarketing services. The Insurance Operations segment focuses on finance protection and insurance products sold primarily through the automotive dealer channel, and commercial insurance products sold directly to dealers. The Mortgage Finance Operations segment consists of the management of a held-for-investment consumer mortgage finance loan portfolio, which includes bulk purchases of jumbo and LMI mortgage loans originated by third parties. The Corporate Finance Operations segment provides senior secured leveraged cash flow and asset-based loans to mostly United States based middle market companies focuses on businesses owned by private equity sponsors with loans typically used for leveraged buyouts, mergers and acquisitions, debt refinancing, restructurings, and working capital. The company was founded in 1919 and is headquartered in Detroit, MI.

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