J.P. Morgan Reiterates Overweight on General Motors Company on Turnaround and Product Cadence

In a report published Friday, J.P. Morgan analyst Ryan Brinkman reiterated an Overweight rating and $34.00 price target on General Motors Company GM. In the report, Brinkman noted, “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 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 2H13.” General Motors Company closed on Thursday at $28.63.