General Motors’ electric vehicles
In the previous part, we looked at analysts’ recommendations for Tesla (TSLA). The company started the initial production of its much-awaited Model 3 in July but delivered them only to Tesla employees. To compete with the Model 3 in the electric vehicle segment, mainstream automaker General Motors (GM) launched its all-electric car, the Chevrolet Bolt EV, in 2016. However, it did not receive the positive response seen by Tesla.
GM stock: Analysts’ recommendations
According to Reuters’s latest consensus, 36% of analysts covering GM stock have given it “buy” recommendations, and 60% have given it “hold” recommendations. The remaining 4% of analysts covering the stock expect it to underperform and have given it “sell” recommendations. As of 2016, according to US auto sales data, GM was the largest automaker (VCR), ahead of Fiat Chrysler (FCAU), Ford Motor (F), and Toyota (TM).
Price targets for GM
On August 28, 2017, GM’s 12-month consensus target price was $38.74, reflecting an upside potential of ~9.1% based on its market price of $35.51. Notably, GM stock’s upside potential has dropped in the last month. GM’s weakening home market sales could be the primary reason for analysts’ lower expectations.
The stock, which has witnessed a roller coaster ride this quarter, has risen ~1.7%. Continue to the next part to learn about what analysts are recommending for Fiat Chrysler stock in August 2017.