Market Overview

UPDATE: Goldman Sachs Reinstates Coverage on General Motors Company with Buy Rating, $35 PT

Related GM
#PreMarket Primer: Thursday, November 20: Immigration Reform Expected To Be Announced
NADA Raises Auto Sales Estimates
Ford's 2015 F-150 Passes Rivals in MPG (Fox Business)

In a report published Monday, Goldman Sachs Group reinstated coverage on General Motors Company (NYSE: GM) with a Buy rating and $35.00 price target.

Goldman Sachs noted, “We are removing the Not Rated designation from GM and adding the shares to the Americas Buy List with a 12-month price target of $35, implying 28% upside. We were previously Not Rated on GM, pending the completion of its purchase of 200mn shares owned by the US Treasury. Our Buy rating is anchored by our expectation for 17% EBITDA growth next year driven primarily by the convergence of NA margins towards those at Ford and a secular improvement in Brazilian profitability. Both are driven by major product refreshes into 2013, volume improvements and a benign input cost environment.”

General Motors Company closed on Friday at $27.32.

Latest Ratings for GM

DateFirmActionFromTo
Oct 2014Credit SuisseMaintainsUnderperform
Oct 2014SusquehannaInitiates Coverage onNeutral
Oct 2014Morgan Stanley

View More Analyst Ratings for GM
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Initiation Analyst Ratings

 

Related Articles (GM)

Around the Web, We're Loving...

Get Benzinga's Newsletters