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JPMorgan upgrades Ally Financial to 'overweight'


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JPMorgan upgrades Ally Financial to 'overweight'

JPMorgan analyst Richard Shane raised Ally Financial Inc.'s stock rating to "overweight" from "neutral."

The analyst noted that Ally Financial is well prepared for a gradual rise in interest rates, and that the company is an outlier as the analyst believes it is more likely to rebound than card issuers.

The analyst recommends Ally Financial as a long-only option, and suggests investors pair it with a short position in American Express Co., as the company's shares have decreased less than other card issuers and the S&P 500.