General Motors (NYSE:GM) Stock Is Still Undervalued despite Its Recent Rally
If General Motors (GM) shares trade near their 2024 highs, does this mean General Motors is too richly valued now? Not at all, as the company’s earnings are sufficiently robust to justify the stock price, even after a recent rally. All in all, I am bullish on GM stock because General Motors is a very reasonably valued business but also a powerful earnings beater.
Headquartered in Detroit, General Motors manufactures conventional and electric vehicles. Until September, interest rates stayed at a high level, making it more difficult for consumers to afford auto loans. That’s been a problem for General Motors, no doubt.
Yet, JPMorgan Chase (JPM) analyst Ryan Brinkman declared that General Motors is “on a roll.” Brinkman…
