Barclays Raises Target Price for General Motors to $70.00

General Motors (NYSE:GM) has received an updated target price from Barclays, which has raised its forecast from $64.00 to $70.00. This adjustment was highlighted in a research note published on Wednesday. The firm has assigned an "overweight" rating to the stock, indicating a positive outlook for the auto manufacturer.

The new target price suggests an upside potential of approximately 31% based on General Motors' current stock price.

Recent Analyst Ratings on General Motors

Other financial institutions have also weighed in with their assessments of General Motors. For instance, Wells Fargo recently lowered its price target for the company's shares from $34.00 to $33.00, giving GM an "underweight" rating. Additionally, StockNews.com adjusted its rating from "buy" to "hold" back in July.

UBS Group also expressed confidence in GM by raising its price target from $61.00 to $64.00 while maintaining a "buy" rating. Similarly, JPMorgan Chase raised its target from $60.00 to $61.00 and maintained an "overweight" designation.

On a different note, DZ Bank downgraded its rating on General Motors from "buy" to "hold" and set a target price of $49.00. Overall, the consensus from market analysts shows a mix of opinions: four analysts rate the stock as a sell, seven as a hold, eleven as a buy, and one as a strong buy. MarketBeat data suggests an average rating of "Hold" with a consensus target price of $55.63.

General Motors Stock Performance

As of Wednesday, General Motors shares opened at $53.44. The company is valued at approximately $60.97 billion and has a price-to-earnings (P/E) ratio of 6.53. The stock has seen a 1-year low of $26.30 and a 1-year high of $54.17.

General Motors announced its quarterly earnings on October 22nd, reporting earnings per share (EPS) of $2.96, exceeding expectations of $2.49. The company generated revenue of $48.76 billion for the quarter, surpassing analysts' forecasts of $44.67 billion and reflecting a 10.5% increase year-over-year.

Insider Trading Activity

In recent insider trading news, CFO Paul A. Jacobson purchased 25,000 shares of General Motors on July 26th at an average price of $44.11, amounting to an investment of $1,102,750. Following this transaction, Jacobson owns a total of 261,872 shares valued at $11,551,173.92.

In contrast, EVP Rory Harvey sold 2,302 shares on August 23rd at an average price of $47.31, totaling $108,907.62. This sale slightly reduced Harvey's ownership to 10,356 shares valued at approximately $489,942.36. Company insiders collectively own about 0.72% of General Motors stock.

Institutional Investment Trends

Institutional investors continue to make adjustments to their holdings in General Motors. ACR Alpine Capital Research LLC increased its stake by 8.4% in the first quarter, acquiring an additional 492,693 shares. Other firms, including BDF Gestion and Cetera Investment Advisers, have also made new investments or increased their stakes in the company, further emphasizing the interest of institutional players.

General Motors Overview

General Motors Company is engaged in designing, manufacturing, and selling trucks, cars, and auto parts. It operates various segments, marketed under several brand names, including Buick, Cadillac, Chevrolet, and GMC.

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