General Motors price target raised to $58 from $54 at RBC Capital

RBC Capital raised the firm’s price target on General Motors (GM) to $58 from $54 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results for global automakers. Sector shares have pulled back, and while consensus numbers have been scaled down, there is further downside risk to estimates amid bearish macro sentiment, with many investors wondering a deflationary period after post-pandemic price hikes has arrived, the analyst tells investors in a research note. GM appears to be among the few names positioned to weather a severe price deflationary situation however, the firm added.