Ally Financial price target raised to $51 from $42 at BofA

BofA raised the firm’s price target on Ally Financial (ALLY) to $51 from $42 and keeps a Buy rating on the shares. While the firm appreciates “where there is skepticism” with shares trading at a 14% premium to the stock’s pre-pandemic trading range, it still sees signs of positive price momentum and remains positive, highlighting that most of the recent outperformance compared to consumer finance names since mid-November came following the bank’s $2B buyback authorization, which it calls “an endorsement of the earnings momentum.”