GM beats quarterly expectations and raises forecast, but shares dive

General Motors (GM) PT Raised to $54 at Argus

Argus analyst William Selesky raised the price target on General Motors (NYSE: GM) to $54.00 (from $52.00) while maintaining a Buy rating.

The analyst comments "Raising price target to $54 On July 23, General Motors reported an adjusted 2Q24 net profit of $3.510 billion or $3.06 per diluted share, up... More

Morgan Stanley Downgrades General Motors (GM) to Equalweight

Morgan Stanley analyst Adam Jonas downgraded General Motors (NYSE: GM) from Overweight to Equalweight with a price target of $47.00 (from $46.00).

The analyst comments "GM's fundamental improvements in capital discipline have not been ignored by the stock market. During the UAW strike of... More

General Motors (GM) PT Raised to $61 at JPMorgan

JPMorgan analyst Ryan Brinkman raised the price target on General Motors (NYSE: GM) to $61.00 (from $60.00) while maintaining a Overweight rating.

The analyst comments "We are reiterating our Overweight rating on GM shares after the automaker reported strongly better 2Q results Tuesday, which along with GMs strongly better than expected 2024 outlook introduced in January, strongly better than expected 1Q beat, unexpected guidance increase at the time of 1Q24 earnings, and unexpected second raise to full-year 2024 guidance today in as many quarters reveal GMs $10 bn accelerated share repurchase program announced last October and subsequent follow-on... More

General Motors (GM) PT Raised to $54 at Mizuho

Mizuho analyst Vijay Rakesh raised the price target on General Motors (NYSE: GM) to $54.00 (from $52.00) while maintaining a Outperform rating.

The analyst comments "Slowing EV Ramps with EV Trucks and Regulations - Still Up Q/Q, Focus on ICE GM noting EVs getting... More

General Motors shares slide despite raising full-year outlook

(Updated - July 23, 2024 9:59 AM EDT)

General Motors (NYSE: GM) shares fell more than 5% following the announcement of its second-quarter results, which surpassed analyst expectations on both earnings and revenue fronts.

The automotive giant reported an adjusted EPS of $3.06, notably higher than the consensus estimate of $2.71. Revenue for the quarter also exceeded forecasts, coming in at $47.97 billion against an anticipated $45 billion.

The company's robust performance has prompted an upward revision of its full-year 2024 earnings guidance. GM now projects an adjusted EPS range of $9.50 to $10.50, an... More