Citi ups GM target, reiterates as top pick post results

Citi analyst Itay Michaeli raised the firm’s price target on General Motors to $82 from $81 and keeps a Buy rating on the shares. The firm also reiterates GM as a top pick. The company’s "strong" quarter and guidance sets up a "far better" risk/reward for the stock this year than in prior years, the analyst tells investors in a research note. Citi says GM’s results are standing out versus some other companies and sectors. The company’s newly introduced net savings target suggests far better cost control than many were expecting, contends the firm.