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Bank of America/Merrill Lynch Lead U.S. Auto Analyst John Murphy spoke at the Automotive News World Congress in Detroit on Wednesday.
Murphy noted that he was “very bullish on demand in 2015” and that “from a structural supply standpoint, the auto industry is in very good shape for at least a few years.”
Outside the U.S., however, “international auto markets remain volatile." He also mentioned that China is experiencing slowing growth.
Murphy added: “M&A, buybacks and dividends are on the rise for the auto industry.”
The firm maintains Buy ratings on Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM) and Honda Motor Co Ltd (ADR)(NYSE: HMC).
He holds an Underperform rating on Tesla Motors Inc (NASDAQ: TSLA).
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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