GM: Berenberg initiates coverage with Buy rating
(CercleFinance.com) - On Tuesday Berenberg analysts initiated their coverage of GM shares with a "buy" rating and a target price of 55 dollars, meaning upside potential of 40%.
In a study of the automotive sector, the broker said that it considers the GM stock to be an "opportunity" with the easing of market fears around the execution of the group's EV strategy.
Berenberg also expects GM to restructure its production more aggressively than its peers, which should enable it to generate margins of around 10%.
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