General Motors: Jefferies raises target price
(CercleFinance.com) - Broker Jefferies maintains its "hold" recommendation on the General Motors stock, while nudging up its target price from 36 dollars to 38 dollars, after the US car maker raised its EPS estimate by 14% to 6.
70 dollars for FY 2019.
"GM mgmt continues to surprise on earnings resilience and the ability to make clear strategic choices," the broker notes, adding that "FCF guidance and bsheet strategy suggest GM believes in structurally lower industry cyclicality".
Although it is not as confident as GM's management, Jefferies says "continue to like US exposure near term," although still prefers the group's peers Ford and Fiat Chrysler Automobiles.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
70 dollars for FY 2019.
"GM mgmt continues to surprise on earnings resilience and the ability to make clear strategic choices," the broker notes, adding that "FCF guidance and bsheet strategy suggest GM believes in structurally lower industry cyclicality".
Although it is not as confident as GM's management, Jefferies says "continue to like US exposure near term," although still prefers the group's peers Ford and Fiat Chrysler Automobiles.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.