During the most recent US stock market session, value of Ally Financial Inc. (NYSE: ALLY) stock increased slightly, rising by 1.43% to close at $36.19. Morgan Stanley’s enhanced rating, which changed the target price from $37 to $47 and went from “Equal-Weight” to “Overweight,” prompted this gain.
However, expert guidance isn’t the only reason for the stock value increase. Ally Financial and The United States Golf Association (USGA) have just formed a significant strategic collaboration, which represents a new direction for the business. Ally is now the official digital banking partner of the USGA, U.S. Open, and U.S. Women’s Open thanks to this long-term, high-value agreement.
Furthermore, Ally assumes the role of presenter for the U.S. Women’s Open, a highly esteemed competition in women’s golf history that dates back to 1946. The collaboration demonstrates Ally’s strategic fit with golf, a game that is growing in popularity and has a wide range of fans, much like Ally’s own target market.
Ally hopes to improve women’s and men’s golf while expanding its fan base by partnering with the USGA, which is well-known for its dedication to golf equity. Key to the agreement, Ally secures presenting partner privileges for the 2024 U.S. Women’s Open, boosting the championship’s prize purse to $12 million, the highest in women’s golf.
The tournament will be held at Lancaster Country Club in Pennsylvania, known for its record-breaking attendance in 2015. Notably, the 2024 U.S. Women’s Open Presented by Ally follows a successful year at Pebble Beach, marked by record attendance and broadcast viewership. Ally’s commitment extends beyond sponsorship to media equity, with significant investments in NBC Universal Media.
This partnership grants Ally category exclusivity for in-broadcast features during the U.S. Women’s Open, further enhancing its visibility and brand recognition. Ally Financial’s stock performance reflects investor confidence bolstered by an upgraded recommendation and strategic corporate partnerships, particularly with the USGA, positioning the company for growth and increased market presence in both finance and sports industries.
