Barclays raises GM stock price target, maintains Overweight rating By Investing.com
Barclays has updated its stance on General Motors (NYSE: NYSE:), boosting its price target to $70 from the previous $64 while sustaining an Overweight rating on the stock.
The new target reflects the firm’s confidence in the automaker’s financial performance and future prospects.
The revision follows General Motors’ third-quarter earnings, which exceeded expectations and demonstrated the company’s continued strong earnings and robust free cash flow generation.
The analyst noted that, as anticipated, General Motors raised its guidance for 2024, though the implied earnings before interest and taxes (EBIT) for the fourth quarter appeared modest.
For 2025, expectations have been set for EBIT to remain steady year over year, with…
