General Motors (GM) Misses on Profit Estimates as Bolt EV Recall Weighs on Earnings, Challenging Chip Situation and 'Cautious' Profit Outlook Pulling Shares Lower Says Analyst

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Go back to General Motors (GM) Misses on Profit Estimates as Bolt EV Recall Weighs on Earnings, Challenging Chip Situation and 'Cautious' Profit Outlook Pulling Shares Lower Says Analyst

Citi Defends General Motors (GM), Stock Reaction 'Appears Excessive'

August 4, 2021 3:50 PM EDT

Citi analyst Itay Michaeli reiterated a Buy rating and $90.00 price target on General Motors (NYSE: GM) following results and the sell-off in the stock. The analyst said the stock reaction "appears excessive."

The analyst commented, "While the Q2 messaging clearly couldve been better, our... More