Truist analyst Brian Foran raised the firm’s price target on Ally Financial (ALLY) to $54 from $50 and keeps a Buy rating on the shares as part of a broader research note updating the firm’s models on Regional Banks following Q1 results. The firm is bumping up its price targets as recession risks recede and the cost of equity comes down, the analyst tells investors in a research note. For the company, Truist is also citing continued improvement in credit.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALLY:
- Ally Financial price target raised to $54 from $46 at Evercore ISI
- Ally Financial price target raised to $55 from $53 at Morgan Stanley
- Ally Financial price target raised to $56 from $50 at Goldman Sachs
- Ally Financial price target raised to $56 from $54 at Barclays
- Midday Fly By: Netflix slumps as co-founder Hastings announces exit