Analysts Expect General Motors Stock to Remain Bullish
Previously, we looked at analysts’ recommendations for Tesla (TSLA), the popular US electric automaker. Tesla is expected to start delivering its much-awaited Model 3 later this year. Model 3 could face competition from General Motors’ (GM) Chevrolet Bolt EV. General Motors already started delivering Chevrolet Bolt EV (electric vehicle) to customers in December 2016. Now, let’s explore what Wall Street analysts recommend for General Motors stock.
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According to the latest data compiled by Reuters, 33% of the 21 analysts covering General Motors gave it “buy” recommendations, while of 62% of the analysts gave it “hold” recommendations. Only one analyst gave a “sell” recommendation.
General Motors is the largest automaker in the US market by sales volume followed by Ford (F), Toyota (TM), and Fiat Chrysler (FCAU). Most of the analysts might be maintaining a conservative view on General Motors stock due to uncertainty about the future of US auto sales (VCR).
Consensus target price
As of March 16, 2017, General Motors’ consensus 12-month target price was $39.75. It reflects an upside potential of ~7.20% from its market price of $37.08.
Last year, General Motors stock remained mixed and ended the year with 2.4% gains—much lower than 9.5% gains seen in the S&P 500 Index. However, General Motors performed better than other automakers. Auto companies including Ford (F), Fiat Chrysler (FCAU), and Tesla (TSLA) ended 2016 in negative territory.
Next, we’ll find out what Wall Street analysts recommend for Fiat Chrysler stock.