Ally Financial shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight but raised its price target from $37 to $39.
Portfolio Pulse from Benzinga Newsdesk
Ally Financial's stock trades lower following a downgrade by JP Morgan from Neutral to Underweight, despite an increase in the price target from $37 to $39.
April 03, 2024 | 1:23 pm
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NEGATIVE IMPACT
Ally Financial's stock experienced a decline after JP Morgan downgraded the stock from Neutral to Underweight, albeit with a raised price target from $37 to $39.
The downgrade by JP Morgan to Underweight signifies a negative outlook on Ally Financial's stock, leading to a short-term negative impact on its price. However, the increase in the price target to $39 suggests a mixed sentiment, potentially limiting the downside.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100