Ally Financial Coverage Initiated by Analysts at Deutsche Bank (ALLY)
Deutsche Bank started coverage on shares of Ally Financial (NYSE:ALLY) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $26.00 price target on the stock. Deutsche Bank’s price target points to a potential upside of 6.34% from the company’s current price.
The analysts wrote, “Ally Financial represents an interesting ROE recovery story within the consumer lending space. While there are many moving pieces, there is a path to 9-10% ROTCE by 2015 (vs. 7% currently) from lower expenses, lower funding costs, and some capital actions, in our view. However, we believe upside to returns (and the stock) will depend on more aggressive capital deployment (which we believe will be further out) and better underlying revenue growth (which may be difficult). We believe the valuation is fair at the current ROE/earnings trajectory. HOLD.”
Ally Financial (NYSE:ALLY) traded down 0.45% during mid-day trading on Tuesday, hitting $24.34. 597,268 shares of the company’s stock traded hands. Ally Financial has a 52 week low of $23.76 and a 52 week high of $27.9032. The stock has a 50-day moving average of $26.92 and a 200-day moving average of $26.62. The company’s market cap is $11.678 billion.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, May 1st. The company reported $0.33 earnings per share for the quarter, missing the analysts’ 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.
A number of other firms have also recently commented on ALLY. Analysts at Citigroup Inc. initiated coverage on shares of Ally Financial in a research note on Tuesday. They set a “buy” rating and a $29.00 price target on the stock. Separately, 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. Finally, 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. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ally Financial has a consensus rating of “Buy” and a consensus target price of $27.92.
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