UPDATE: Keefe, Bruyette & Woods Initiates Coverage on Ally Financial with Outperform Rating, $30 PT on Multiple Positive Factors

In a report published Tuesday, Keefe, Bruyette & Woods analyst Sanjay Sakhrani initiated coverage on

with an Outperform rating and $30.00 price target. In the report, Keefe, Bruyette & Woods noted, “We are initiating coverage of Ally with an Outperform rating and a 12-month price target of $30. Ally represents an opportunity for investors who want exposure to a restructuring story with stated goals for management to execute upon to mark progress. Additionally, at current valuation levels, we believe there are areas of low-hanging fruit as well as capital management activities that present meaningful upside potential.” Ally Financial closed on Monday at $24.45.