Argus Research analyst Bill Selesky maintains $General Motors (GM.US)$ with a buy rating, and adjusts the target price from $54 to $60.
According to TipRanks data, the analyst has a success rate of 54.6% and a total average return of 6.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $General Motors (GM.US)$'s main analysts recently are as follows:
General Motors reported 'much stronger' results for Q3, providing the basis for slightly improved full-year 2024 EBIT guidance and 'very materially' stronger free cash flow forecasts. These results have reinforced confidence in the management's previous outlook presented during the recent investor day, which included plans to expedite share repurchases to achieve diluted shares of under 1 billion by early 2025.
General Motors' Q3 results have continued a trend of solid gross margin performance and significant generation of free cash flow. Although the market will decide GM's valuation multiple, it is suggested that it warrants a substantially higher figure than 5x.
General Motors' Q3 earnings surpassed expectations, bolstered by its strong presence in the North American large SUV market which helped mitigate the effects of lower pricing seen in other market segments. The company's Q3 performance, along with raised guidance and the implication of share repurchases in Q4, are anticipated to prompt a positive reassessment of consensus estimates and investor expectations.
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