Is General Motors Stock Going to $55? 1 Wall Street Analyst Thinks So. [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
And the stock's run isn't over yet, at least according to Bernstein analyst Daniel Roeska. Initiating coverage on GM stock, Roeska assigned a $55 price target and an outperform rating. Based on its current price of $45.94, Roeska's price target implies an upside of nearly 20% for GM stock. Generating strong cash flow will help fuel GM stock's rise Roeska addresses several points in his initial report on GM stock, according to The Fly. Most notably, he asserts that GM is poised to deliver strong results throughout 2024, providing a catalyst for the stock to rise. Additionally, Roeska is impressed with GM's achievement in generating stronger cash flow, and he expects the company to distribute $4.5 billion to shareholders in 2024. GM reported strong first-quarter 2024 financial results this week. With regard to cash flow, GM increased operational cash flow from its automotive segment to $3.6 billion in Q1 2024 from $2.2 billion during the same period last year. With respect to ad
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