Barclays lowered the firm’s price target on Ally Financial to $36 from $44 and keeps an Equal Weight rating on the shares following the mid-quarter update. Ally seemed to be an outlier on the asset quality front, citing greater than expected deterioration in its retail auto portfolio, the analyst tells investors in a research note. The firm says that while several banks reiterated second half of 2024 net interest income guides, the outlook for 2025 varied amid soft loan growth and asset sensitive balance sheets.
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