GM cuts EV production forecast, approves $6 billion share buyback
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BofA Securities Reiterates Buy Rating on General Motors (GM)
June 12, 2024 6:01 AM EDTBofA Securities analyst John Murphy reiterated a Buy rating and $75.00 price target on General Motors (NYSE: GM)
The analyst comments "GMs EVP & CFO Paul Jacobson presented at a conference today, 6/11. In addition to GMs increased buyback and dividend, Jacobson provided... More
RBC Capital Reiterates Outperform Rating on General Motors (GM)
June 11, 2024 8:25 AM EDTRBC Capital analyst Joseph Spak reiterated an Outperform rating and $58.00 price target on General Motors (NYSE: GM).
The analyst comments "What Happened? GM this AM announced its board has approved a new $6B share repurchase authorization. Recall, this comes after it announced a $10B accelerated share repurchase in November 2023, while it still had $1.4B remaining in its prior plan. In Q1/24, the company bought back $300M in shares, and it expects to complete the remaining $1.1B of its prior plan before the end of Q2/24. Taking a step back, share repurchases totaled $2.5B in... More
