Ally Financial price target raised to $37 from $36 at BMO Capital

BMO Capital raised the firm’s price target on Ally Financial to $37 from $36 but keeps a Market Perform rating on the shares after its Q1 earnings beat. The company’s higher-than-previously modeled revenues more than offset higher expected costs and the management also increased its outlook, the analyst tells investors in a research note. BMO adds however that a potentially slowing loan growth and rising credit costs could partially offset the top-line benefits of higher net interest margins.