Short Term Price Target on Ally Financial (ALLY)

Ally Financial (NYSE:ALLY) : 7 investment research analysts covering Ally Financial (NYSE:ALLY) have an average price target of $23.71 for the near short term. The highest target price given by the Brokerage Firm to the stock is $28 and the lowest target is $19 for the short term. Analysts expect the variance to be within $3.35 of the average price.

Shares of Ally Financial Inc. appreciated by 1.49% during the last five trading days but lost 6.11% on a 4-week basis. Ally Financial Inc. has dropped 8.52% during the last 3-month period . Year-to-Date the stock performance stands at -8.42%. Also, Macquarie initiates coverage on Ally Financial (NYSE:ALLY) The brokerage firm has issued a Neutral rating on the shares. The rating by the firm was issued on May 11, 2016.

Ally Financial (NYSE:ALLY) has an average broker rating of 1.67, which is interpreted as a Buy, as rated by 9 equity analysts. Nonetheless, 6 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 3 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Ally Financial (NYSE:ALLY): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.52 and $16.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.11. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.07, notching a gain of 7.09% for the day. The total traded volume was 12,997,005 . The stock had closed at $15.94 on the previous day.

Ally Financial Inc. is a financial holding company and a bank holding company. It is an independent, diversified financial services firm. Its banking subsidiary, Ally Bank, is an indirect wholly owned subsidiary of the Company and a franchise in the Internet, telephone, mobile and mail banking market. Dealer Financial Services, which includes the Companys Automotive Finance and Insurance operations, and Mortgage are its primary lines of business. Ally Bank offers deposit products, such as checking, savings and certificates of deposit (CDs), as well as several raise-your-rate CD terms, IRA deposit products, Popmoney person-to-person transfer service, eCheck remote deposit capture, Ally Perks debit rewards program and Mobile Banking.

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