In a report published Friday, Morgan Stanley analyst Cheryl M. Pate reiterated an Overweight rating on Ally Financial Inc ALLY, but lowered the price target from $30.00 to $27.00.
In the report, Morgan Stanley noted, “With expected loss of a large portion of lease volume, expect longer trajectory to sustainable double digit ROTCE as Ally focuses on taking share in used & non-GM/Chrysler lending. Upside could come from proactive liability mgmt. We lower PT $3 to $27, remain OW.”
Ally Financial closed on Thursday at $19.58.
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