Consumer Discretionary

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month price target by $2 to $30, based on a ’25 P/E of 4.2x, a steep but justified discount to historic averages. We increase our 2023 adjusted EPS estimate by $0.50 to $8.00, keep 2024 at $6.65, and introduce ’25 at $7.15. GM posts Q3 adjusted EPS of $2.28 vs. $2.25 (+1%), well ahead of the $1.84 consensus. The beat was driven by a stronger-than-expected top line, as revenue rose 5.4% to $44.13B ($880M above consensus) on stronger volumes (+5.2%). GM withdrew its prior 2023 adjusted EPS guidance of $7.15-$8.15 (current consensus = $7.49) due to uncertainty related to the UAW’s now 40-day-old targeted strike. GM also said it will moderate its EV production ramp-up for a variety of reasons, which we believe is […]

General Motors Co.’s stock (GM) rose 1.5% early Tuesday, after the carmaker blew past earnings estimates for the third quarter. The company had net income of $3.064 billion, or $2.20 a share, for the quarter, after income of $3.305 billion, or $2.25 a share, in the year-earlier period. Adjusted per-share earnings came to $2.28, well ahead of the $1.87 FactSet consensus. Revenue rose to $44.131 billion from $41.889 billion a year ago, also ahead of the $42.482 billion FactSet consensus. “We were profitable in every region, including China,” Chief Executive Mary Barra said in a letter to shareholders. “And GM International excluding China is on track to deliver significantly higher EBIT-adjusted in 2023 compared to a year ago.” Electric vehicle sales rose 28% from the second quarter after the company produced 32,000 EVs and made the first deliveries of the Chevrolet Blazer EV. It expects further volume increases in the

General Motors CEO Says Co Launching New SUVs With Profit Margins Up To 5 Points Higher Than Models They Replace.

General Motors CEO Says New Bolt Will Use LFP Batteries; New Bolt Will Save Billions In Capital Spending Vs Prior Entry EV Plan。

General Motors Exec Says Bolt Lithium-Iron Batteries Will Come From China, Supplier Not Identified。 GM CEO Says Automaker Will Purchase Lithium-Iron Batteries For Next Bolt。