General Motors price target lowered to $70 from $80 at BofA

BofA analyst John Murphy lowered the firm’s price target on General Motors to $70 from $80 and keeps a Buy rating on the shares, calling Q4 results "better than feared" and the 2023 outlook "more than hoped for." Following Q4 results, the firm is lowering estimates, but contends that GM "continues to lead the Core to Future transition" with its focus on EVs and future business initiatives.