Barclays analyst Jason Goldberg raised the firm’s price target on Ally Financial to $43 from $32 and keeps an Equal Weight rating on the shares. The analyst expects improved relative bank stock performance in 2024 as net interest income troughs amid stabilizing deposit trends and accelerating loan growth later in the year. Also, interest-bearing deposits fees should recover, while expenses are well controlled, the analyst tells investors in a research note. The firm believes large-cap banks will continue to recoup 2023’s underperformance in 2024 and that earnings momentum can improve as this year progresses and into 2025.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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 Insiders’ Hot Stocks on TipRanks >>
Read More on ALLY:
- Ally Financial price target raised to $41 from $38 at Keefe Bruyette
- The predicated wave of AI specialist jobs has yet to arrive, WSJ reports
- Ally Financial price target raised by $5 at BofA, here’s why
- Morgan Stanley ups North American Consumer Finance view, changes 3 ratings
- Morgan Stanley gets more bullish on Ally Financial, upgrades shares