Deutsche upgrades General Motors to Buy following pullback

As previously reported, Deutsche Bank analyst Edison Yu upgraded General Motors (GM) to Buy from Hold with a price target of $90, up from $83, following the recent pullback in shares. The near-term volatility can be attributed to geopolitical developments, says the analyst, whose thesis is built on the resilience that GM has demonstrated multiple times in recent years. The firm views recent weakness as an “attractive entry point to gain exposure to a potential multi-year re-rate story,” the analyst tells investors.