Argus lowered the firm’s price target on General Motors to $40 from $48 but keeps a Buy rating on the shares. The company’s higher Q3 earnings reflected strong pricing, market share gains in the U.S., higher global deliveries, and lower purchaser incentives, though the firm is also lowering its 2023 EPS estimate to $7.56 from $7.65 to reflect the cost of the labor strike, the analyst tells investors in a research note.
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