Wells Fargo analyst Colin Langan raised the firm’s price target on General Motors (GM) to $40 from $38 and keeps an Underweight rating on the shares ahead of quarterly results. Discussing the group, the firm says it expects mostly good results among suppliers. Profit-taking could ensue, if guides don’t “crush” expectations. Wells is worried about D3 pricing/volume balance and high warranties in the quarter.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GM:
- Tesla (TSLA) Reports Record Vehicle Deliveries in Q3
- Stellantis Stock (STLA) Cheers as U.S. Sales Rise amid Multiple Vehicle Recalls
- General Motors (GM) Sets New EV Record in Q3 ahead of Tax Credit Expiration
- Lithium Americas Stock (LAC) Rallies as U.S. Government Takes 5% Stake
- Tesla (TSLA) Raises EV Lease Prices after $7,500 Tax Credit Expires