Ally Financial price target lowered to $24 from $25 at BofA

BofA analyst Brandon Berman lowered the firm’s price target on Ally Financial to $24 from $25 and keeps an Underperform rating on the shares as the firm lowered its earnings estimates ahead of the company’s Q1 report to reflect lower PPNR assumptions. BofA forecasts Ally to report Q1 EPS of 91c, which it notes is "modestly below" consensus’ 93c per share forecast, and it expects shares to remain under pressure as investors focus their attention on the health of the consumer.