BofA reinstates General Motors with a Buy on leading U.S. market share

As previously reported, BofA analyst Alexander Perry initiated coverage of General Motors (GM) with a Buy rating and $105 price target GM is the number one automaker by market share in the U.S. and this should continue given benefits from a more favorable environment for internal combustion vehicles, the analyst tells investors. BofA views GM as “a key beneficiary” of recent regulatory changes, which is enabling a mix shift to its most margin accretive trucks and SUVs and away from unprofitable EVs, the analyst added.