ALLY - Ally Financial To Gain From NIM Recovery Amid Lower Tax Rate Analyst Sees CEO Transition Soon | Benzinga
BMO Capital Markets analyst James Fotheringham reiterated the Market Perform rating on Ally Financial Inc. (NYSE:ALLY), raising the price target to $37 from $36.
Despite Ally Financial’s fourth quarter small low-quality beat, the analyst lowered near-term estimates by -7%, which is lower than previously modeled NII (slower loan growth) and is only partially offset by lower expected costs (non-interest and tax-related), the analyst writes.
As per the analyst, the company’s fourth-quarter adjusted EPS of $0.45 beat the consensus of $0.44 by +2% due to slightly lower-than-expected compensation costs and higher fees.
The company’s full-year guidance implies ...