On July 24th, Citigroup released a research report saying that although General Motors' performance in the second quarter of this year was outstanding, the stock price still fell 6% the night before (July 23). The bank said that at this stage, there is still no concern or impact on the company's performance for the fiscal year 2025. Its performance is expected to continue to outperform in the macro environment, and the market will increase its forecast as free cash flow improves and it is expected to welcome multiple catalysts (progress of electric vehicles, self-driving Cruise sector, etc.), and the stock price is expected to rebound. The bank also raised its earnings per share forecast for General Motors for fiscal years 2024 to 2026 to reflect the second quarter's performance growth, while adjusted pre-tax profits for fiscal year 2024 were raised from an earlier estimate of $13.7 billion to $14 billion. Looking ahead to the days after fiscal year 2024, the bank believes that General Motors' main drivers of profitability include narrowing losses in its electric vehicle business, self-driving Cruise department, rising product power and industry resilience normalization, and the eventual improvement of the China market. Citigroup said that given the resilience of General Motors' profitability and earnings per share, it decided to raise its target price from $96 to $98 and give it a "buy" rating. The bank explained that General Motors' valuation already fully reflects the execution risks of its electric vehicle business in the near term. As the company finalizes its strategic plan, the Cruise business will become a potential catalyst for its stock price to rise.