Citi analyst Arren Cyganovich raised the firm’s price target on Ally Financial to $38 from $37 and keeps a Buy rating on the shares. The firm said shares are reacting to positive commentary from the company to move toward a 4% NIM beginning in 2024. Citi continues to view Ally as a unique way within financials to benefit when teh Fed pivots given its natural liability sensitive balance sheet, due to fixed auto loans.
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 reports Q2 adjusted EPS 96c, consensus 92c
- Unusually active option classes on open July 19th
- Ally Financial reports second quarter 2023 financial results
- Notable companies reporting before tomorrow’s open
- Ally Financial declares dividend on common stock and Series B and Series C preferred stock