General Motors (GM) Investor Day Heightened Expectations, Risk To The Downside - Goldman

Goldman Sachs analyst, David Tamberrino, reiterated his Neutral rating on shares of General Motors (NYSE: GM) after the company hosted its investor day in NYC where the company offered surprisingly strong 2019 guidance.

Rather than thinking this is the first in a series of positive events, the analyst sees this as creating potential downside stating "we now think risk may be skewed toward the downside with guidance hinging on benefits from the pickup refresh in what will likely be a highly competitive segment in 2019 and as underlying industry assumptions for GM’s guidance are move favorable than our industry views as they essentially expect a slightly down US light vehicle SAAR and China sales in line yoy".

No change to the price target of $38.

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 $36.69 yesterday.

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