GM downgraded at Deutsche Bank, citing liquidity concerns from COVID-19-related shutdowns [MarketWatch]
General Motors Company (GM)
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Source: MarketWatch
General Motors Co. was downgraded Wednesday to hold from buy at Deutsche Bank, with analyst Emmanuel Rosner citing worries about liquidity in the face of COVID-19-related production shutdowns. He slashed his stock price target by 39%, to $25 from $41. He also cut his stock price target for Ford Motor Co. by 30%, to $7 from $10, while maintaining his hold rating. "Despite considerable declines in equity values since the start of the Covid crisis, we see additional downside risk for U.S. autos stocks, in light of significant liquidity concerns from the prolonged production shutdown," Rosner wrote in a note to clients. "We now estimate Ford and GM only have 15-17 weeks of liquidity under shutdown conditions before they hit their minimum cash levels." GM's stock rose 0.5% i premarket trading and Ford shares gained 2.3%. Year to date, shares of GM have lost 41.8% through Tuesday and Ford has shed 49.4%, while the Dow Jones Industrial Average has declined 20.6%.
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GM
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GM
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- 1/5/26 - Form 4
- 1/5/26 - Form 4
- GM's page on the SEC website