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%.
Copyright (c) 2022 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.
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%.
Copyright (c) 2022 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.