Citi lowered the firm’s price target on Ally Financial to $40 from $45 and keeps a Buy rating on the shares. The analyst expects consumer finance stocks to report "generally good results with few changes to full year outlooks." Unemployment trends remain better than expected and while credit shows some weakening in cards, not to levels that should lead to higher full-year guides, the analyst tells investors in a research note. Into the quarter, Citi feels best about Discover Financial Services (DFS) and worst on Capital One Financial (COF) and opened respective 30-day positive and negative catalyst watches on each.
Published first on TheFly
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Read More on ALLY:
- Ally Financial declares dividend on common stock and Series B and Series C preferred stock
- Ally Financial price target lowered to $28 from $30 at JPMorgan
- Ally Financial (ALLY) Q1 Earnings Cheat Sheet
- Ally Financial price target lowered to $24 from $25 at BofA
- Ally Financial price target lowered to $34 from $35 at Barclays
