UBS Maintains a 'Buy' on General Motors (GM); 2H Outlook Better After Q2 Beat
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Price: $32.87 +0.06%
Rating Summary:
20 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
20 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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UBS maintains a 'Buy' on General Motors (NYSE: GM) price target of $30.00 (from $28.00).
Analyst, Colin Langan, said, "GM's Q2 automotive EBIT of $1.9bn beat consensus $1.7bn and our estimate of $1.32bn, primarily driven by upside in N America ($1.97bn vs. consensus $1.7bn) and lower than expected losses in Europe (-$361m vs. consensus -$426m)...Our model now assumes 2012 pre-tax to be $0.55bn higher vs. prior, partly offset by other auto expense...we raise our 2012 EPS from $3.10 to $3.35 reflecting the Q2 beat and improved margins in S America from restructuring benefits and new launches, offset by lower pickup production in N America. We raise our 2013 to 2016 EPS by $0.20."
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 $19.14 yesterday, with a 52 week range of $18.72-$27.68.
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Analyst, Colin Langan, said, "GM's Q2 automotive EBIT of $1.9bn beat consensus $1.7bn and our estimate of $1.32bn, primarily driven by upside in N America ($1.97bn vs. consensus $1.7bn) and lower than expected losses in Europe (-$361m vs. consensus -$426m)...Our model now assumes 2012 pre-tax to be $0.55bn higher vs. prior, partly offset by other auto expense...we raise our 2012 EPS from $3.10 to $3.35 reflecting the Q2 beat and improved margins in S America from restructuring benefits and new launches, offset by lower pickup production in N America. We raise our 2013 to 2016 EPS by $0.20."
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 $19.14 yesterday, with a 52 week range of $18.72-$27.68.
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