Ally Financial: Credit Concerns Likely Limit Upside After Q2 Results (Downgrade)
Ally(ALLY) Seeking Alpha·2024-07-18 00:38
JHVEPhoto Shares of Ally Financial Inc. (NYSE:ALLY) have been a strong performer over the past year, rising about 60% and sitting at a 52-week-high. However, shares did drop about 3% after reporting Q2 earnings on Wednesday morning. Results were solid, and this pullback likely reflects some profit-taking after a strong run. I last covered Ally in April, reiterating shares as a buy. Since then, they are up about 14%, just ahead of the market's gain. Still, shares are now firmly at my $42-45 targeted price ra ...