Ally Financial downgraded to Hold from Buy at Jefferies

Jefferies analyst John Hecht downgraded Ally Financial to Hold from Buy with a price target of $25, down from $40. The company’s sensitivity to auto residual pricing, its "liability-sensitive" balance sheet and interest margin pressure, loan volume being under pressure given constraints to credit and lower demand and its lease book margin exposure "present incremental risk," Hecht tells investors in a research note. He says Ally’s current valuation "does not represent a unique, unprecedented value."