UBS upgraded General Motors to Buy from Neutral with a price target of $44, up from $41, as the analyst took over coverage of the stock. Assuming a strike does not occur, the firm see second half earnings upside compared to consensus and argues that the current “negativity” priced into the shares creates an attractive risk/reward. GM‘s stock is off about 16% since mid-July, notes the firm, which thinks a possible UAW settlement and the company’s November 16 analyst day could be catalysts for the shares.
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