Ally Financial downgraded to Sell from Neutral at BTIG

BTIG analyst Vincent Caintic downgraded Ally Financial (ALLY) to Sell from Neutral with a $30 price target The firm says a number of negative macro trends and industry commentary have made it more cautious on the auto lending industry and particularly prime auto lending. Ally faces asset yield pressure in superprime, prime and near-prime auto loans from competition among the top-10 banks for prime and superprime auto loans, as banks pursue lower net charge-offs, the analyst tells investors in a research note. BTIG is expecting a guide-down when Ally reports Q1 earnings, and is 32% below consensus on Q1 earnings, primarily from interest income.