General Motors price target lowered to $76 from $82 at Citi

Citi analyst Itay Michaeli lowered the firm’s price target on General Motors to $76 from $82 and keeps a Buy rating on the shares. The analyst expects a "solid" Q1 report with a confirmed 2023 guidance. With the stock having given back year-to-date outperformance, a "reassuring Q1 outcome should be well received," the analyst tells investors in a research note. The firm believes GM can stay earnings positive in "most (reasonable) hard landing scenarios with ample liquidity." However, it trimmed fiscal year estimates on lower volume and a softer China outlook.