UPDATE: Berenberg Starts General Motors (GM) at Buy

Berenberg analyst Adrian Yanoshik initiates coverage on General Motors (NYSE: GM) with a Buy rating and a price target of $55.00.

The analyst comments "We initiate on GM with a Buy recommendation and a USD55 price target: We think that there is an opportunity as investors regain confidence in GM’s ability to execute EV rollouts. New launches in the North American SUV and pick-up segments should drive momentum, as should efficiencies from GM’s dedicated EV platform, in our view. We also expect GM to rationalise and simplify ICE production more aggressively than its peers, sustaining group margins towards 10%."

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 $38.26 yesterday.

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