BofA raised the firm’s price target on General Motors to $75 from $72 and keeps a Buy rating on the shares following a Q2 beat driven by price and execution. GM raised its 2023 outlook and the firm adjusted estimates in consideration of GM’s 2023 guidance, noting that its model also now reflects the potential for higher labor costs starting next year as UAW negotiations are underway with the current Master Agreement set to expire September 14.
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