General Motors (NYSE:GM)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Monday, Stock Ratings Network.com reports. They currently have a $39.00 price objective on the stock. Zacks‘ target price points to a potential upside of 6.35% from the company’s current price.
Zacks‘ analyst wrote, “General Motors benefits from its focus on the emerging markets and expects further improvement from its major expansion plan across the globe. Further, we appreciate the company’s effort to strengthen its cash reserve and its desperate measures to shed the “Government Motors” tag. Recently, the stock has been reinserted into the Standard & Poor’s 100- and 500-stock index a position that was lost after the company went into bankruptcy. However, we are concerned about its significant exposure to Europe and the global economic weakness. Despite beating the Zacks Consensus Estimate by $0.06 per share, GM’s profits fell 6.7% from $0.90 per share in the second quarter of 2012. As such, we continue to recommend the shares of the company as Neutral and set a target price of $39.00.”
A number of other firms have also recently commented on GM. Analysts at Jefferies Group raised their price target on shares of General Motors from $36.00 to $38.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of General Motors to $45.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of General Motors from $42.00 to $48.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock.
Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $43.00.
General Motors (NYSE: GM) traded down 0.65% on Monday, hitting $36.43. General Motors has a 1-year low of $18.93 and a 1-year high of $37.71. The stock’s 50-day moving average is currently $34.72. The company has a market cap of $50.128 billion and a price-to-earnings ratio of 13.13.
General Motors (NYSE:GM) last announced its earnings results on Thursday, July 25th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.09. The company had revenue of $39.10 million for the quarter, compared to the consensus estimate of $38.37 million. During the same quarter last year, the company posted $0.90 earnings per share. General Motors’s revenue was up 4.0% compared to the same quarter last year. Analysts expect that General Motors will post $3.33 EPS for the current fiscal year.
General Motors Corporation (NYSE: GM) designs, build and sell cars, trucks and automobiles parts globally.
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