UBS Keeps General Motors’ $50 PT and ‘Neutral’ Rating

UBS analyst Joseph Spak reiterated on June 11, 2025, a ‘Neutral’ rating and $50.00 price target on General Motors.

“GM announced they will invest ~$4bn over the next two years at their manufacturing facilities in the US to increase domestic production. Capex for 2025 remains unchanged at $10-$11bn, and GM indicated they expect their annual capital spending to be between $10-$12bn through 2027.

While generally auto investments/capex are not viewed favorably by investors given they could limit potential capital returns, this shouldn’t be too surprising given the needs to move more manufacturing to the US because of trade policy.

Importantly, these aren’t new “green field” facilities, rather more “brown field”/increasing output at existing facilities. Recall, GM recently stated they would invest $888mm in Tonawanda, NY for their next-generation V-8 engine; we view today’s release as incremental to the $888mm already announced.”

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