General Motors (GM) PT Raised to $47 at BMO Capital

January 14, 2019 7:22 AM

BMO Capital analyst Richard Carlson raised the price target on General Motors (NYSE: GM) to $47.00 (from $41.00) while maintaining a Outperform rating.

The analyst comments "GM’s initial 2019 guide was well above expectations, largely driven by its strong product lineup, cost-cutting initiatives, and a relatively healthy industry outlook (particularly in the U.S.). We are raising our EPS estimates materially, which on the same valuation approach takes our price target up to $47 from $41. We reiterate our Outperform rating and continue to believe the market isn’t fully appreciating the value from GM Cruise or the significant progress management has made in positioning GM for long-term success while also improving its cyclical resilience."

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