Tesla, GM earnings, US futures, EV sales - what's moving markets
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JPMorgan on Tesla (TSLA): 'See Risk of Further Negative Earnings Revisions'
April 24, 2024 9:05 AM EDTJPMorgan analyst Ryan Brinkman reiterated an Underweight rating and $115.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "We see the risk of further negative earnings revisions and continued multiple compression after 1Q24 results tracked softer even than estimates that had recently been... More
Roth/MKM Reiterates $85 PT on Tesla (TSLA), Issues Negative/Cautious Comments on 'Stretched' Valuation
April 24, 2024 6:38 AM EDTRoth/MKM analyst Craig Irwin reiterated a Neutral rating and $85.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "Tesla posted a 1Q24 miss and pulled forward a low-cost vehicle launching before 2H25 to be based on existing vehicle platforms. RoboTaxi unveiled... More
Tesla (TSLA) PT Lowered to $293 at RBC Capital
April 24, 2024 6:32 AM EDTRBC Capital analyst Tom Narayan lowered the price target on Tesla (NASDAQ: TSLA) to $293.00 (from $294.00) while maintaining a Outperform rating.
The analyst comments "With "Model 2" not only back on track, but accelerated, fears of ''no growth for years'' have... More
General Motors (GM) PT Raised to $60 at JPMorgan
April 24, 2024 6:19 AM EDTJPMorgan analyst Ryan Brinkman raised the price target on General Motors (NYSE: GM) to $60.00 (from $58.00) while maintaining a Overweight rating.
The analyst comments "We are raising our estimates and price target, and reiterating our Overweight rating on GM shares after the automaker on Tuesday reported solidly better 1Q results (featuring easily higher EBIT, cash flow, and EPS than the Street was looking for), while at the same time further raising 2024 guidance that was already far above the Street. Looking more closely at the quarter... More
Morgan Stanley Re-explains it's $310 Price Target on Tesla (TSLA)
April 24, 2024 6:18 AM EDTMorgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "Our PT of $310 is comprised of 6 components: (1) $67/share for core Tesla Auto business on 6.1mm units in 2030, 9.0% WACC, 13x 2030 exit EBITDA multiple, exit EBITDA... More
Deutsche Bank on General Motors (GM): 'Strong Start to 2024; Pricing and EV Remain Key'
April 24, 2024 6:16 AM EDTDeutsche Bank analyst Emmanuel Rosner reiterated a Hold rating and $50.00 price target on General Motors (NYSE: GM).
The analyst comments "GMs stock price jump yesterday, in our view, reflects a deserved positive reaction to the companys Q1 beat, as well as upward guidance revision. Importantly, management pointed to better Q2 Ebit sequentially driven mainly by volume and recovery in GMI, both in China and outside of China q/q, offset by some pricing weakness, though not seen thus far in April. We note that based on the companys updated guidance... More
General Motors (GM) PT Raised to $30 at Wells Fargo
April 24, 2024 5:42 AM EDTWells Fargo analyst Colin M. Langan raised the price target on General Motors (NYSE: GM) to $30.00 (from $28.00) while maintaining a Underweight rating.
The analyst comments "We raise our 2024E EPS from $4.45 to $5.00 to reflect the Q1 beat partially offset by our lower... More
General Motors (GM) stock gains after raising full-year guidance
April 23, 2024 6:49 AM EDTGeneral Motors (NYSE: GM) reported a robust first quarter in 2024, with earnings and revenue surpassing Wall Street expectations and the company raising its full-year guidance. The automaker announced an adjusted EPS of $2.62, which was $0.50 higher than the analyst estimate of $2.12. Revenue for the quarter was also strong at $43.01 billion, exceeding the consensus estimate of $40.67 billion and marking an 8% increase YoY.
Investors reacted positively to the news, with GM shares climbing 3.4% on the back of... More
