Jefferies Trims Price Target on GM (GM) to $29

Jefferies trimmed its price target on Hold-Rated General Motors (NYSE: GM) from $30 to $29 following last night's sell-side analyst dinner hosted by the company.

The firm commented, "As expected, Europe plus cash strategy dominated the discussion. GM is clearly taking actions to address both the threats and opportunities before the business. However, we got the sense that progress in the near term is likely to remain incremental. We reiterate our Hold rating, as the stock seems to lack a near term catalyst."

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 $26.05 yesterday.

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