General Motors: Sticking With A $77 Price Target
- General Motors' Q3 earnings beat expectations, with non-GAAP EPS of $2.96 and revenue of $48.8 billion, driving a 20% stock increase since my last analysis.
- I maintain a $77 price target for GM, citing strong free cash flow, profit growth, and a compelling valuation despite long-term uncertainties in EV and AV markets.
- Near-term technicals are bullish, with the stock above key moving averages and RSI momentum strong; the next resistance is at $67.
- Key risks include faster AV and EV adoption, macroeconomic factors like higher unemployment, and geopolitical tensions impacting the supply chain.
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Tesla (TSLA) has captured much of the limelight following President-elect Trump's victory earlier this month. Shares of General Motors (NYSE:GM) have posted solid gains, too, outperforming the S&P 500. The recent advance builds on a huge 2024 rally as
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