Deutsche Bank keeps Hold on General Motors, lowers price target to $33

Deutsche Bank analyst Emmanuel Rosner lowered the firm’s price target on General Motors to $33 from $35 and keeps a Hold rating on the shares. The analyst expects a mixed Q4 earnings and 2023 guidance season for U.S. autos, with several companies potentially missing quarterly consensus estimates, and most of them likely to issue cautious 2023 guidance amid ongoing choppy industry conditions and macro uncertainty.