Wells Fargo Raises General Motors Price Target to $59
Wells Fargo analyst Colin M.
Langan raised the price target on General Motors (NYSE: GM) to $59.00 (from $57.00) while maintaining a Underweight rating.
“GM Q1 adj EBIT beat & mgmt raised FY adj EBIT guide on IEEPA refund.
The $0.5B raise reflects IEEPA ($0.5B) & cost ($0.5B) offset by raw mats (-$0.5B). The guide still implies positive vol/mix w/ mgmt attributing Q1 share loss to inventory.
We are skeptical share will recover given soft ’26 launches. Also, revised guide does not reflect volume risk if the Iran conflict & high oil linger.
Lastly, RoY guide implies +$1B y/y in EBIT, dispite most of ~ $3B in raw mat/onshoring costs hitting.”
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