General Motors price target raised to $58 from $56 at RBC Capital

RBC Capital raised the firm’s price target on General Motors to $58 from $56 and keeps an Outperform rating on the shares. The company’s Q1 EBIT beat was “impressive” while its management remained bullish on its EV plans for 2024, with several key launches coming in the second half of the year, the analyst tells investors in a research note. RBC adds that GM investors should expect more buybacks to come in the future.