TD Cowen analyst Itay Michaeli has maintained their bullish stance on GM stock, giving a Buy rating today.
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Itay Michaeli has given his Buy rating due to a combination of factors that highlight General Motors’ strong financial performance and future growth potential. Michaeli raised the price target for GM to $100, up from $92, following a robust third-quarter performance that exceeded expectations. This increase is supported by improved free cash flow visibility and momentum in software and services, making GM a top pick.
Furthermore, Michaeli’s analysis points to several catalysts that could drive future earnings growth, including the redesign of GM’s full-size pickup trucks and the expansion of Orion capacity in the coming years. The strong execution and high-quality earnings projected for 2025, along with GM’s solid position in the electric vehicle market, provide a favorable risk/reward scenario. Additionally, the potential growth in software and services, such as OnStar and SuperCruise, is expected to contribute significantly to GM’s earnings by 2030.
According to TipRanks, Michaeli is an analyst with an average return of -19.9% and a 41.18% success rate. Michaeli covers the Consumer Cyclical sector, focusing on stocks such as Tesla, American Axle, and Autoliv.
In another report released today, Barclays also maintained a Buy rating on the stock with a $85.00 price target.