UBS Maintains a 'Buy' on General Motors (GM); Q1 Beat Not Enough

UBS maintains a 'Buy' on General Motors (NYSE: GM) price target lowered from $34 to $30.

Analyst, Colin Langan, said, "GM reported adjusted EPS of $0.93, better than our $0.87 estimate and consensus of $0.85. EBIT of $2.2bn was $340m better than consensus, driven by better than expected results in Europe and S America. N America also beat excluding $300m in one-time costs. The stock traded down today due to flat sequential EBIT guidance for N America for Q2 and Q3 and needed European inventory reductions."

FY12 EPS lowered from $4.00 to $3.50 and FY13 from $4.95 to $4.50.

For an analyst ratings summary and ratings history on General Motors click here. For more ratings news on General Motors click here.

Shares of General Motors closed at $22.37 yesterday.

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