Barclays Reiterates an 'Overweight' on General Motors (GM), CFO Dinner Takeaways
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Price: $86.77 +0.44%
Rating Summary:
28 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
28 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays reiterates an 'Overweight' on General Motors (NYSE: GM), PT $44.
Barclays analyst says, "Last night, GM hosted a sell-side dinner with Dan Amman, who succeeded Chris Liddell as CFO on April 1st. While not offering details on why Mr. Liddell resigned, Dan emphasized fundamental continuity around GM's financial strategy and philosophy with his predecessor. To us, several points stood out that underscored our basic comfort with GM as (for better or worse) a value play: renewed discipline on pricing, measured growth in credit, limited impact of production cuts and impact of gas prices on mix and GMNA profitability."
"Japan situation still fluid but better pricing discipline may be a scenario. Dan sees it as too early for GM - or any automaker - to sound an all-clear on Japan. So far, it has been able to develop alternative sourcing plans for indentified affected parts, but the situation changes daily as further issues are uncovered. Dan concurs with our thesis that the current situation could improve pricing, noting that the April incentives are low."
Other highlighted points include: GMNA had/has no intention of driving a price war; and Balance sheet and credit strategy remain consistent.
For more ratings news on General Motors click here and for the rating history of General Motors click here.
Shares of General Motors closed at $32.31 yesterday.
Barclays analyst says, "Last night, GM hosted a sell-side dinner with Dan Amman, who succeeded Chris Liddell as CFO on April 1st. While not offering details on why Mr. Liddell resigned, Dan emphasized fundamental continuity around GM's financial strategy and philosophy with his predecessor. To us, several points stood out that underscored our basic comfort with GM as (for better or worse) a value play: renewed discipline on pricing, measured growth in credit, limited impact of production cuts and impact of gas prices on mix and GMNA profitability."
"Japan situation still fluid but better pricing discipline may be a scenario. Dan sees it as too early for GM - or any automaker - to sound an all-clear on Japan. So far, it has been able to develop alternative sourcing plans for indentified affected parts, but the situation changes daily as further issues are uncovered. Dan concurs with our thesis that the current situation could improve pricing, noting that the April incentives are low."
Other highlighted points include: GMNA had/has no intention of driving a price war; and Balance sheet and credit strategy remain consistent.
For more ratings news on General Motors click here and for the rating history of General Motors click here.
Shares of General Motors closed at $32.31 yesterday.
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