Jefferies Raises Numbers on GM (GM) Following Mixed Q4 Results
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Price: $86.77 +0.44%
Rating Summary:
28 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
28 Buy, 13 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies boosted estimates and its price target on General Motors (NYSE: GM) from $24 to $31 but kept its Hold rating following mixed Q4 results.
The firm comments, "GM shares rallied 9% on a mixed 4Q print. We think the stock looked past widening losses in Europe and South America and instead embraced pension disclosure that was better than feared, strong operating leverage in North America, and continued improvements in jobs data. That GM rallied 9% despite a near $600mn quarterly loss in Europe underscores how far expectations have fallen. Even still, the path of least resistance feels higher."
The firm raised Q1 EPS estimates from $0.43 to $0.87 and FY12 from $3.16 to $3.99. FY13 was maintained at $5.11.
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 $27.17 yesterday.
The firm comments, "GM shares rallied 9% on a mixed 4Q print. We think the stock looked past widening losses in Europe and South America and instead embraced pension disclosure that was better than feared, strong operating leverage in North America, and continued improvements in jobs data. That GM rallied 9% despite a near $600mn quarterly loss in Europe underscores how far expectations have fallen. Even still, the path of least resistance feels higher."
The firm raised Q1 EPS estimates from $0.43 to $0.87 and FY12 from $3.16 to $3.99. FY13 was maintained at $5.11.
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 $27.17 yesterday.
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