Wells Fargo Maintains Underweight Rating for Ally Financial: Here's What You Need To Know

Wells Fargo has decided to maintain its Underweight rating of Ally Financial ALLY and lower its price target from $22.00 to $20.00.

Shares of Ally Financial are trading down 0.76% over the last 24 hours, at $24.27 per share.

A move to $20.00 would account for a 17.58% decrease from the current share price.

About Ally Financial

Ally Financial Inc is a diversified financial services firm that services automotive dealers and their retail customers. The company operates as a financial holding company and a bank holding company. Its banking subsidiary, Ally Bank, caters to the direct banking market through Internet, mobile, and mail. The company reports four business segments including Automotive Finance operations, Insurance operations, Mortgage Finance operations and Corporate Finance operations.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.