JPMorgan raised the firm’s price target on Ally Financial (ALLY) to $45 from $44 and keeps an Overweight rating on the shares following the Q2 report. The firm believes Ally could see better credit performance if auto tariffs increase used vehicle prices and lower loss severities.
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Read More on ALLY:
- Ally Financial price target raised to $37 from $32 at Wells Fargo
- Morning Movers: 3M and Charles Schwab tick higher following quarterly results
- Ally Financial reports Q2 net interest margin 3.45%, up 10 bps vs. Q1
- Ally Financial reports Q2 adjusted EPS 99c, consensus 80c
- Notable companies reporting before tomorrow’s open