Ally Financial price target raised to $37 from $33 at Wells Fargo

Wells Fargo raised the firm’s price target on Ally Financial to $37 from $33 and keeps an Underweight rating on the shares after the company reported a solid quarter as metrics were in line with recent guidance. Stock is off modestly, which the firm believes reflects higher auto NCO guidance in an environment where investors have consumer jitters, even though management recently guided to an increase.