Analysts on GM stock
As of March 28, a total of 21 analysts were covering General Motors (GM) stock. In the last six months, many analysts have turned positive on GM who had earlier suggested “holds.”
According to the latest consensus data by Reuters, 71% of analysts covering GM stock have given it “buy” recommendations. Another 24% of analysts have given it “holds.” The remaining 5% of analysts covering the stock expect it to decline and have given it “sells.”
Consensus target price
Interestingly, only ~57% of analysts were recommending “buys” on GM about six months ago, much fewer than the 71% recommending “buys” on it now.
As of March 28, Wall Street analysts’ 12-month consensus target price on GM stock was $47.05, reflecting a solid potential upside of ~26.9% from its current price of $37.06. About six months ago, the consensus target price for GM was much lower at $45.20, and it has risen even higher than its all-time high of $46.76 since listing on the NYSE in 2010.
Recent recalls and tariffs
In the last couple of weeks combined, GM stock has largely traded on a negative note. President Donald Trump’s open criticism of the company’s move to close its Ohio plant has hurt investors’ (XLY) sentiments. On March 16, President Trump asked the company in a tweet to open its Ohio plant “because the economy is so good.” In his next tweet, he criticized it, saying “G.M. let our Country down,” and implored it to “stop complaining and get the job done!”
General Motors’ continued focus on profitable market segments and its vehicle line-up could help it remain positive in the medium term.