NEW YORK (TheStreet) -- Shares of General Motors  (GM) - Get Report  are rising 1.75% to $32.04 this morning after the company's 2016 second quarter earnings surpassed analysts' estimates, and Citigroup said this beat highlights the "perception vs. reality gaps" that GM faces.

TheStreet's Jim Cramer said in the video above that General Motors had a "really, really good quarter."

"We think quarters like these (and it's not the first one) could encourage investors to take another look at General Motors," the firm said in a note cited by Barron's.

For the 2016 second quarter, the company reported earnings of $1.86 per share, beating estimates of $1.52 per share. Revenue was $42.4 billion, higher than Wall Street's expected $38.91 billion.

"We believe that taking a closer look at General Motors reveals fundamental misconceptions that could fundamentally change how General Motors is perceived both near and long term," Citigroup said, adding that GM's pickup truck business is significant and that the company presents a transformation story.

The firm has a "buy" rating on the stock.

Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B-.

The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, notable return on equity, attractive valuation levels and impressive record of earnings per share growth. TheStreet Ratings feels its strengths outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: GM

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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