General Motors (GM) PT Raised to $40 at Jefferies, 'Buying Time, and Shares'

Jefferies analyst Philippe Houchois raised the price target on General Motors (NYSE: GM) to $40.00 (from $37.00) while maintaining a Hold rating.

The analyst commented: "Upbeat guidance supports to the sector, although only a message of resilience since the non-recurrence of 2023 events (UAW strike, LG compensation, LCNRV adj) account for more than 2x the implied increase in EBIT. Aggressive buy-backs look set to continue but there are limits to an "arithmetic investment case" that leverages the North America "Truck Rent". FCF raised >50%, EPS unch."

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