Goldman Sachs analyst Ryan Nash upgraded Ally Financial to Conviction Buy from Buy with a $51 price target. The firm added Target (TGT), Ally Financial (ALLY) and Installed Building Products (IBP) to its Conviction List, while removing JP Morgan (JPM), Republic Services (RSG), Okta (OKTA) and WW International (WW) as part of its monthly “Directors’ Cut” revisions. For Ally, the analyst expects the company to benefit from the Federal Reserve cutting rates, a normalizing credit environment, and accelerating growth.
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