Ally Stock Climbs on Canceled CardWorks Acquisition

The stock received three price-target hikes in response

Deputy Editor
Jun 25, 2020 at 11:25 AM
facebook X logo linkedin

The shares of Ally Financial Inc (NYSE:ALLY) are up 13% at $20.69 at last check, after the banking company called off its proposed acquisition of CardWorks, a consumer finance lender and service, last night. The cancellation was mutual, as both parties agreed amid the adverse affects of coronavirus. Following the news, Piper Sandler handed out a price-target hike to $27, while Credit Suisse and Susquehanna each hiked to $29.

On the charts, ALLY is now healthily above its 40-day moving average, a trendline the equity overcame in mid-May, and now leads as support alongside the $18 level. Year-to-date, the equity is down 33%, but has eked out a gain of 20% in the last month. 

Analysts are bullish on Ally stock, with eight out of 12 sporting a "buy" or better, while the remaining four sit at a lukewarm "hold." Meanwhile, the 12-month consensus price target of $27.47 is a 35.7% premium to current levels.

Though calls still outweigh puts on an absolute basis, the options pits are looking much more hesitant than usual. This is per ALLY's 10-day put/call ratio of 0.73 at the International Securities Exchange (ISE), Cboe Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 85% of all other readings from the past year. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI