Jefferies Trims Price Target on GM (GM) to $30

Jefferies trimmed its price target on Hold-rated General Motors (NYSE: GM) from $31 to $30.

The firm comments, "GM announced a strategic alliance with PSA focused on platform sharing and purchasing. We don't see material downside from GM's standpoint, we struggle to understand why it doesn't go against the grain of GM's strategic moves of the last several years."

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 $26.02 yesterday.

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