BMO Capital lowered the firm’s price target on Ally Financial to $40 from $46 and keeps an Outperform rating on the shares. The analyst cites the company’s lower than expected revenues and higher costs driving a “small” Q3 earnings miss. Ally Financial has also lowered its full-year net interest margin guidance by 10 bps for the second consecutive quarter) due to higher deposit costs, the firm tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ALLY:
- Ally Financial price target lowered to $35 from $37 at Citi
- Ally Financial Earnings Report: Did it Beat Expectations?
- Ally Financial sees FY23 NIM above 3.3% vs. prior view of 3.4%
- Ally Financial announces workforce reduction to save $80M annually
- Ally Financial reports third quarter 2023 financial results