GM poised to drop further - CFRA [Seeking Alpha]
General Motors Company (GM)
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Source: Seeking Alpha
Consumer|On the MoveGM poised to drop further - CFRAApr. 27, 2020 1:19 PM ETGeneral Motors Company (GM)Clark SchultzCFRA keeps a bearish view on General Motors (+1.0%dividend suspensionAnalyst Garrett Nelson: "We maintain our 12-month target price of $15, based on a '21 P/E of 4.7x, a discount to GM's five-year mean forward P/E of 6.2x. Our adjusted EPS estimates remain unchanged at $2.25 for '20 and by $3.20 for '21... The decision to halt cash returns to shareholders was part of a deal struck with lenders, as it extended $3.6B under its 3-year revolving credit facility to April 2022."The price target implies more than 30% downside potential for shares.Nelson expects monthly auto sales to bottom in April, but does not anticipate a sharp rebound and continues to warn on Sell-rated GM after the +50% bounce from its March low.See all stocks on the move »Now read:How Strong Is China's Leverage Over Tesla? »
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News
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GM
Earnings
- 1/27/26 - Beat
GM
Sec Filings
- 3/26/26 - Form SCHEDULE
- 3/23/26 - Form 8-K
- 2/18/26 - Form 4
- GM's page on the SEC website