UBS raised the firm’s price target on General Motors (GM) to $56 from $50 and keeps a Neutral rating on the shares. The firm expects “broadly strong” results from U.S. autos, auto parts, and auto tech, but the group could take a breather, the analyst tells investors in a research note. While it’s tough to be negative when there are beats and numbers move higher, UBS says it’s “tough” to be overly positive on valuation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GM:
- GM’s Silao, Mexico plant pauses output for several weeks, Reuters says
- Tesla Price Target Trimmed by Top Analyst Despite Improving U.S. Auto Outlook
- General Motors price target raised to $70 from $60 at Goldman Sachs
- General Motors price target raised to $62 from $54 at RBC Capital
- General Motors put volume heavy and directionally bearish