General Motors (GM) CL-Buy Rating Maintained at Goldman Sachs

Goldman Sachs maintained a Conviction Buy rating on General Motors (NYSE: GM) with a price target of $48. Comments follow updates during its analyst day.

Analyst Patrick Archambault said, "We need to be careful not to overstate the importance of a single analyst day, but we view the event as quite positive. GM appears poised to hit its 2014 profit objectives set out at the Detroit auto show in January (ex. recall) with the exception of South America. We think that provides a boost to credibility and underscores the importance of the tailwind from product launches in a volatile macro. This also gives us greater confidence in our $4.47 EPS estimate for 2015, which appears to be in the glide path of GM’s 2016 outlook that we estimate equates to EPS in excess of $5.50."

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 $32.49 yesterday.

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