In a research note issued to investors late last week, Citigroup has reduced the objective price of GM stock from $60,00 to $57.00. The institution, however, continues to have a buy rating on the stock, though now with a lower price point.
In the past few months, five financial analysts have issued reports on GM stock, as follows.
On September 11th, Goldman Sachs Group set a $36.00 price objective on GM stock while giving the firm a neutral rating.
ValuEngine downgraded GM shares from a hold rating to a sell rating on Tuesday, September 4th.
In a research note released Friday, August 17th, Morgan Stanley dropped its GM stock price objective from $50.00 to $46.00 while also setting an overweight rating.
Royal Bank of Canada boosted its price objective of GM stock from $52.00 to $53.00 and also gave the automaker an outperform rating in a Tuesday, July 10th research note.
On a research note on Thursday, June 28th, Zacks Investment Research upgraded GM shares Motors from a hold rating to a buy rating, and set a $46.00 price objective.
In total, three analysts have GM stock rated with a sell rating, seven have given it a hold rating and thirteen have given it a buy rating. The Detroit-based automaker has an average rating of Hold and an average price target of $46.98.
As of market close on Wednesday, October 10th, GM stock closed at $32.60, down 0.18 percent or $0.06. The “New GM” held its Initial Public Offering (IPO) in November 2010 at $34.26.
Since then, the automaker has been doing its best to increase its share price. The firm has left unprofitable markets, divested of loss-making divisions, made adjustments to its business model in order to prioritize profit over market share, and also invested heavily into new-age mobility ventures such as electric and autonomous vehicles. However, GM stock continues to float around its yearly low, despite an occasional rally.