Citigroup Inc. Initiates Coverage on Ally Financial (ALLY)
Citigroup Inc. assumed coverage on shares of Ally Financial (NYSE:ALLY) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $29.00 price target on the stock. Citigroup Inc.’s target price suggests a potential upside of 18.61% from the stock’s previous close.
ALLY has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Ally Financial in a research note on Tuesday. They set an “overweight” rating and a $30.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods initiated coverage on shares of Ally Financial in a research note on Tuesday. They set an “outperform” rating and a $30.00 price target on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Ally Financial in a research note on Tuesday. They set a “neutral” rating and a $26.00 price target on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $27.92.
Shares of Ally Financial (NYSE:ALLY) traded down 0.45% on Tuesday, hitting $24.34. 597,268 shares of the company’s stock traded hands. Ally Financial has a one year low of $23.76 and a one year high of $27.9032. The stock’s 50-day moving average is $26.92 and its 200-day moving average is $26.62. The company’s market cap is $11.678 billion.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.42 by $0.09. On average, analysts predict that Ally Financial will post $1.69 earnings per share for the current fiscal year.
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