TD Cowen Raises GM’s Price Target to $122

TD Cowen analyst Itay Michaeli raised on January 28, 2026, the price target on General Motors to $122 (from $110) while maintaining a ‘Buy’ rating on the stock.

“Following GM’s solid Q4, we raise estimates and take our target to $122 from $110.

Despite recent share price outperformance, we still see a compelling go-forward risk/reward on:

1. Upside potential to the ’26 guide;
2. A path to ~$16bln EBIT next year (+16% YoY and well- above $14.9bln consensus);
3. Accelerating SW momentum;
4. A strengthening case for multiple expansion.

GM our Top Pick.”

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