Credit Suisse analyst Dan Levy reiterated an Outperform rating and $48.00 price target on General Motors (NYSE: GM), highlighting that the company will be unveiling the 8th generation Chevy Corvette Stingray this evening at 7:30 PM PDT. The analyst highlighted:

• The 8th Generation 2020 Corvette Stingray will be the first mid-engine Corvette...
• Lagging Corvette sales indicate change is needed.
• Significant U.S. share and variable profit justify focus.
• But let’s remember that GM is still at its core a truck OEM
• More broadly, we hold an OP rating on GM

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Shares of General Motors closed at $39.16 yesterday.