Wolfe upgrades General Motors on underappreciated potential tailwinds

As previously reported, Wolfe Research upgraded General Motors (GM) to Outperform from Peer Perform with a $96 price target While 2026 could see small additional step-up in raw materials, investors may be underappreciating the magnitude of potential tailwinds into 2027, including the upcoming FS Pickup refresh, further reduction in warranty costs, lower net tariff burden, and further improved EV losses, says the analyst, who models 2026 and 2027 EPS of $12.37 and $16.03, respectively.