Market Overview

UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on General Motors Company

Share:
Related GM
Tesla's Gigafactory: Are Other Auto Manufacturers About To Experience Their 'Blackberry Moment?'
Our Financial System Isn't Perfect, But It's Not As Bad As It May Seem
What Ford Said About The Global Economy (Seeking Alpha)

In a report published Wednesday, J.P. Morgan & Co. reiterated its Overweight rating on General Motors Company (NYSE: GM), and raised its price target from $30.00 to $34.00.

J.P. Morgan noted, “We rate GM Overweight, for its best-in-class leverage to global growth markets, ongoing operational turnaround, and improving product cadence. We believe GM is well positioned to capitalize upon strong long-term growth in emerging markets, and is winning the race for the future in China in particular. In developed markets, we expect higher profits in North America – spurred by a rising top line and a new generation of full-size pickup trucks – to more than offset continued losses in Europe. We see a multi-year tailwind to GM's North American business from a sustained increase in US industry light vehicle sales, as light vehicle SAAR normalizes higher. As well, we expect a new generation of full size trucks will materially benefit GM North America share, volume, mix, and pricing, starting as soon as 2Q13.”

General Motors Company closed on Tuesday at $25.49.

Latest Ratings for GM

DateFirmActionFromTo
May 2016CitigroupMaintainsBuy
May 2016CitigroupMaintainsBuy
May 2016Morgan StanleyUpgradesUnderperformEqual-weight

View More Analyst Ratings for GM
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (GM)

View Comments and Join the Discussion!