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Fly News Breaks for April 2, 2019
ALLY
Apr 2, 2019 | 06:57 EDT
Citi analyst Arren Cyganovich says Ally Financial's new repurchase plan of up to $1.25B is above his forecast of $900M. The analyst is "somewhat surprised" by the 25% increase in the authorization with the implementation of the current expected credit loss model beginning on January 1, 2020, but he sees it as a sign of confidence that the company "can withstand the initial phased-in capital hit to book value." Cyganovich has a Buy rating on Ally Financial.
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