Citi says General Motors’ “strong” 2024 guidance brings the firm’s $95 price target “into view.” The target it implies a “mere” 9-times 2024 price-to-earnings ratio on a company “that’s again proving it can outperform the macro backdrop,” the analyst tells investors in a research note. The firm says GM offers an 8% free cash flow yield with proven consistency and shareholder-friendly deployment. It keeps a Buy rating on the shares and expects a favorable reaction to this morning’s Q4 report.
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