Markets & Finance

Deutsche Bank Cuts GM To Sell


From Standard & Poor's Equity Research

Deutsche Bank downgraded General Motors (GM) to sell from hold, explaining that the stock price already reflects positive developments.

Analyst Rod Lace was expecting the company to have near term upside from its deal with Delphi, GM's attrition program, and a relatively strong second quarter.

Lace says he believes that at least two of these factors (Delphi and the attrition program) are reflected in the stock. He says increased caution is now warranted; retail sales appear to be moderating, while pickup truck demand appears to have taken a negative turn. He lowers his target to $24 from $25.


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus