Barclays Reiterates an 'Overweight' on General Motors (GM); Taking Steps In The Right Direction

Barclays reiterates an 'Overweight' on General Motors (NYSE: GM) price target of $37.00.

Analyst, Brian A Johnson, said, "GM critics will likely question the ROI on the $3.5-4.5bn cash contribution ($3bn net as pension underfunding is closed), which many would have preferred to see go to shareholders. However, longer-term investors may appreciate the lower plan volatility provided through derisking."

Johnson said he commented on a pension buyout back in September of 2011 so he applaudes the idea and thinks the move is a strategic step forward for the company. At Barclays, GM remains a Top Pick in the Auto/Auto Parts space.

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 $22.01 yesterday.

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