Piper Jaffray Believes Ally Financial (NYSE: ALLY) Won’t Stop Here

By Ryan Adsit

Piper Jaffray analyst Kevin Barker reiterated a Buy rating on Ally Financial (NYSE: ALLY) on December 5 and set a price target of $32. The company’s shares closed yesterday at $27.89, close to its 52-week high of $28.24.

According to TipRanks.com, Barker is a 5-star analyst with an average return of 11.7% and a 76.9% success rate. Barker covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, First Interstate Bancsystem, and Pinnacle Financial Partners.

Currently, the analyst consensus on Ally Financial is Strong Buy and the average price target is $29.71, representing a 6.5% upside.

In a report issued on December 1, Wells Fargo also assigned a Buy rating to the stock with a $30 price target.

Ally Financial’s market cap is currently $12.38B and has a P/E ratio of 12.91. The company has a book value ratio of 0.9119.

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Ally Financial, Inc. is a holding company, which engages in the provision of digital financial services. It operates through the following segments: Automotive Finance Operations, Insurance Operations, and Mortgage Operations. The Automotive Finance Operations segment provides automotive financing services to consumers and automotive dealers.