JPMorgan released a note Thursday regarding their view of automakers through 2016 and into 2017. Specifically, this note comes on the heels of a recent trip the sell-side firm took to China, where they met 29 automakers, suppliers and consultants.
They highlight multiple takeaways from the trip, such as:
- China auto sales to finish 2016 strong, but 2017 unclear due to varying potential of government support.
- Automakers such as General Motors Company GM and Ford Motor Company F should finish 2016 strong due to China industry trends.
- Despite a tougher environment in 2016, JPMorgan believes that GM and Ford have enough company-specific levers to pull that can help shares beat investor performance.
- Strong share and margin more sustainable than most investors imagine.
Shares of GM and Ford remained relatively flat on the day. As of Thursday afternoon, GM was trading at $28.23, and Ford trading at $12.48.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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