RBC Capital raised the firm’s price target on General Motors to $54 from $52 and keeps an Outperform rating on the shares. The company’s Q4 free cash flow was better than expected and its initial 2024 guidance was solid, driven by strong volumes and only modest price headwinds, the analyst tells investors in a research note. GM also confirmed that its module production issues will be resolved by mid-year, putting the company on track to deliver 200K-300K Ultium-based EVs in 2024, the firm added.
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