UBS Reiterates a 'Buy' on General Motors (GM); Penion and North American Profit Upside Surprise
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Price: $87.93 +2.07%
Rating Summary:
28 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
28 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS reiterates a 'Buy' on General Motors (NYSE: GM) price target raised from $29 to $34.
UBS analyst says, "Although EPS of $0.39 missed consensus of $0.41, results were a slight beat when removing taxes (-$0.04). Adjusted EBIT of $1.1bn was higher than consensus of $1.0bn. The biggest positive surprise was the pension status as underfunding only rose +$3bn, better than our
+$17bn estimate. This alone adds $6 to our price target. Consequently, the shares traded up 9% on the news."
"We are lowering 2012 EPS estimate to reflect the $800m decline in pension income (~$0.40) partially offset by a more optimistic view of underlying N America profits. Our 2012 EPS estimate declines to $4.00 from $4.30 and 2013 declines to $4.95 from $5.20."
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 $27.17 yesterday.
UBS analyst says, "Although EPS of $0.39 missed consensus of $0.41, results were a slight beat when removing taxes (-$0.04). Adjusted EBIT of $1.1bn was higher than consensus of $1.0bn. The biggest positive surprise was the pension status as underfunding only rose +$3bn, better than our
+$17bn estimate. This alone adds $6 to our price target. Consequently, the shares traded up 9% on the news."
"We are lowering 2012 EPS estimate to reflect the $800m decline in pension income (~$0.40) partially offset by a more optimistic view of underlying N America profits. Our 2012 EPS estimate declines to $4.00 from $4.30 and 2013 declines to $4.95 from $5.20."
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 $27.17 yesterday.
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