General Motors price target raised to $36 from $33 at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner raised the firm’s price target on General Motors to $36 from $33 and keeps a Hold rating on the shares. Yesterday’s stock rally in reaction reaction to GM‘s 2023 guidance reflected covering of short positions by investors who had expected a much more conservative tone, rather than market confidence in the better than anticipated outlook, the analyst tells investors in a research note. The firm believes the guidance is "seemingly underpinned by some arguably optimistic assumptions."