Barclays upgraded General Motors (GM) to Overweight from Equal Weight with a price target of $73, up from $55. The firm sees a favorable environment for the company amid easing U.S. electric vehicle regulations and “resiliency” in U.S. car pricing. GM has an opportunity to narrow its EV losses. When combined with an attractive valuation and stock buybacks, GM shares “should work,” contends Barclays.
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