Citi analyst Arren Cyganovich lowered the firm’s price target on Ally Financial to $35 from $37 and keeps a Buy rating on the shares post the Q3 report. Ally’s recently announced CEO transition creates some uncertainty, but the outgoing CEO left the company in good shape for an earnings rebound in the coming years, the analyst tells investors in a research note. The firm trimmed estimates to reflect higher assumed long-term debt costs.
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