NEW YORK (TheStreet) -- General Motors (GM) shares are climbing in early market trading, up 1.7% to $36.92, after posting June sales numbers well ahead of analysts expectations.
The beleaguered U.S. automaker sold 267,461 vehicles in June, a 1% jump from the June 2013 total, while retail and fleet sales were up 1% and 2% respectively. Analysts were expecting a 6.3% decline in sales.
This news comes a day after the company announced that it was recalling 8.4 million vehicles and would be taking a $1.2 billion second quarter charge in relation to the recalls.
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TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."