Ally Financial price target raised to $30 from $28 at Piper Sandler

Piper Sandler analyst Kevin Barker raised the firm’s price target on Ally Financial to $30 from $28 and keeps a Neutral rating on the shares following the Q1 report. The quarter was another step in the right direction as Ally continued to reduce balance sheet risk by tightening underwriting, slowing growth in higher-risk asset classes, and increased cash balances, the analyst tells investors in a research note.