General Motors price target raised to $98 from $86 at Citi

Citi raised the firm’s price target on General Motors (GM) to $98 from $86 and keeps a Buy rating on the shares. The firm says the company’s $6B electric vehicle charge will bring lower operating expenses and reduced supplier reimbursements. The benefits from accounting could help to return GM’s North American margins back to the 8%-10% targeted range, the analyst tells investors in a research note.