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Is it Time to Trade General Motors (NYSE:GM)?
It's a new year, and analysts are adjusting their opinions on stocks and sectors. This week, Goldman Sachs (GS) expressed a bit of optimism on the newly resuscitated General Motors (NYSE:GM), initiating coverage on the stock with a "buy" rating.
The covering analyst set a 12-month price target of $43, representing about 16% of upside from current levels. He noted, "GM is ideally positioned to take advantage of the cyclical … and secular auto demand opportunities" and added, "we think the stage is set for profitability not seen since the 1970s, which is not fully discounted in the shares."
It's a new year, and analysts are adjusting their opinions on stocks and sectors. This week, Goldman Sachs (GS) expressed a bit of optimism on the newly resuscitated General Motors (NYSE:GM), initiating coverage on the stock with a "buy" rating.
The covering analyst set a 12-month price target of $43, representing about 16% of upside from current levels. He noted, "GM is ideally positioned to take advantage of the cyclical … and secular auto demand opportunities" and added, "we think the stage is set for profitability not seen since the 1970s, which is not fully discounted in the shares."