Soleil Lowers Estimates and Price Target on General Motors (GM)
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Soleil Securities lowers estimates and price target on General Motors (NYSE: GM).
Soleil sees a '08 loss of ($5.25), versus prior view of ($5.00). The firm sees a '09 loss of ($1.50), versus prior view of a $0.10 profit.
Soleil is lowering their trading range to $10-20 from $15-25 and target price to $16 from $20.
The firm said, "The North American market continues to decline and move away from the product strengths of GM, straining the company's liquidity and increasing the urgency for additional cost actions."
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