UBS Maintains a 'Buy' on General Motors (GM); 2H Outlook Better After Q2 Beat

UBS maintains a 'Buy' on General Motors (NYSE: GM) price target of $30.00 (from $28.00).

Analyst, Colin Langan, said, "GM's Q2 automotive EBIT of $1.9bn beat consensus $1.7bn and our estimate of $1.32bn, primarily driven by upside in N America ($1.97bn vs. consensus $1.7bn) and lower than expected losses in Europe (-$361m vs. consensus -$426m)...Our model now assumes 2012 pre-tax to be $0.55bn higher vs. prior, partly offset by other auto expense...we raise our 2012 EPS from $3.10 to $3.35 reflecting the Q2 beat and improved margins in S America from restructuring benefits and new launches, offset by lower pickup production in N America. We raise our 2013 to 2016 EPS by $0.20."

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 $19.14 yesterday.

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