BofA analyst Brandon Berman lowered the firm’s price target on Ally Financial (ALLY) to $38 from $42 and keeps a Buy rating on the shares. Fundamentally, Q1 EPS is “a tad weaker,” but this is unlikely to disrupt the trajectory toward management’s medium-term targets, the analyst tells investors. However, recession fears will “more likely dictate stock performance in the near term,” the analyst added in a Q1 preview note.
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