General Motors (GM) PT Raised to $47 at Benchmark

Benchmark analyst Michael Ward raised the price target on General Motors (NYSE: GM) to $47.00 (from $41.00) while maintaining a Buy rating following the company's 3Q earnings report. GM reported 3Q20 earnings of $2.83 per share compared with earnings of $1.72 per share in the year-earlier period and about double expectations heading into the release.

The industry recovery in China has been stronger than expected, GM has new product, and the fourth quarter contribution should be the first positive year-over-year comp in two years.

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