Credit Suisse Upgrades Ally Financial (ALLY) to Outperform

Credit Suisse upgraded Ally Financial (NYSE: ALLY) from Neutral to Outperform with a price target of $27.00 (from $25.00) on better loan growth and capital returns.

Analyst M. Orenbuch commented, "We increase our '16 estimates from $2.18 to $2.30 and our '17 estimate from $2.52 to $2.64 and we increase our PT from $25 to $27, which represents 9.5x core '17 EPS ex-$2/shr for the DTA, 1.0x 2Q16 GAAP book value of ~$27/shr and a 2017 adjusted core EPS estimate of $2.64 (which represents a forward ROE of about 10% on 2Q16 GAAP book value)."

For an analyst ratings summary and ratings history on Ally Financial click here. For more ratings news on Ally Financial click here.

Shares of Ally Financial closed at $22.47 yesterday.

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