General Motors resumed with a Hold at Deutsche Bank

Deutsche Bank resumed coverage of General Motors with a Hold rating and $53 price target. The firm notes GM shares have “clearly outperformed” year-to-date, which it sees reflecting “aggressive share buybacks and solid financial results” following the Cruise fallout and hiccups with its battery module production ramp. However, the cyclicality of the industry remains closely monitored, with pricing, inventory levels, and overall consumer demand “being top of mind for investors,” the analyst argues.