UBS Keeps $97 Price Target on General Motors

UBS analyst Joseph Spak reiterated on January 9, 2026, a ‘Buy’ rating and $97 price target on General Motors.

“That additional charges were coming is not surprising given

1. GM indicated there would be more given Brightdrop actions and EV review was not done, which was mentioned as recently at our UBS Industrials Conference in December.
2. While not perfectly analogous, the magnitude of Ford’s $19.5bn write down vs. the $1.6bn charge GM already took in 3Q25 (so total GM EV charge now $7.6bn in 2025).

So, while the news that there are further charges should not be surprising, investors may take issue with the size as it could impact the magnitude of share repurchases.

This could be compounded by the disclosure that they expect to recognize material cash and non-cash charges in 2026 related to continued negotiations, though this would be significantly less than the $7.6bn ($4.6bn cash) of EV related chargers in 2025.”

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