BMO Capital analyst James Fotheringham raised the firm’s price target on Ally Financial to $37 from $36 and keeps a Market Perform rating on the shares. Despite Ally’s “small low-quality beat,” BMO lowered near-term estimates by 7%, saying lower than previously modeled net interest income is only partially offset by lower expected costs. The firm increased the price target as it rolled forward its valuation methodology by one quarter.
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- Ally Financial price target raised to $44 from $39 at Stephens
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- Ally Financial price target raised to $29 from $26 at Wells Fargo
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