General Motors climbs on Morgan Stanley Upgrade
Analysts now expect GM´s businesses will be more relevant in coming years than most expect.
Shares of General Motors (GM) - Get Report were trading higher Monday after analysts with Morgan Stanley raised their rating on the stock to Overweight from Equal-weight. The firm also upped its price target to $37 from $29 on shares of the auto giant, noting, "We believe GM´s businesses can remain relevant and profitable for longer than the market thinks. A move to Auto 2.0 requires a lengthy transition period (Auto 1.5) during which time GM can generate cash, return cash and nurture new businesses with potentially positive terminal values," GE shares are now down about 5% so far on the year.
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