General Motors shares rose after RBC Capital Markets upgraded the stock to outperform on Tuesday.
“We believe GM guides 2018 above consensus leading to positive earnings revisions,” wrote analyst Joseph Spak. “The stock fits squarely into our preferred narrative for 2018 – increased confidence on downturn resiliency with a seat at the table on new mobility.”
His new price target of $52 calls for the stock to pop 23 percent over the next 12 months as North American truck sales decline less than the rest of Wall Street expects.
