Mizuho Reiterates Outperform Rating on General Motors (GM)

Mizuho analyst Vijay Rakesh reiterated an Outperform rating and $54.00 price target on General Motors (NYSE: GM).

The analyst commented: "GM recently hosted an Analyst Day at its Spring Hill, TN EV Battery/Vehicle Facility.

Key highlights: 1) GM maintained its 2024E adj. EBIT outlook of $14B, with EPS of $10, Adj Auto FCF at $10.5B, and capex of $11B; 2) Refreshed Bolt to debut in late 2025E at ~$28K ASP, 3) EVs on track to be variable margin positive in 4Q24 despite weaker market expectations, 4) $2-4B EV EBIT improvement in 2025E, $2-4k per EV emissions credit, and 5) EV profitability improving with 50/50 split from scale and regulatory credits/battery and cost improvement.

Maintain Outperform and $54 PT, while on slightly weaker 2025/26E LVP, we lower F25/26E revenue estimates 4/7% (still above consensus), as we see continued margin strength, a slow, deliberate EV ramp, and GM continuing to execute well on its ICE roadmap."

For an analyst ratings summary and ratings history on General Motors click here. For more ratings news on General Motors click here.

Shares of General Motors closed at $48.63 yesterday.

You May Also Be Interested In

• Mizuho on Meta Platforms Inc. (META): 'we take this as a positive, adding a margin of safety to medium-term EPS'
• Nasdaq rejects Triller shareholder authorization for discounted stock sales
• Exxon to Change Name for First Time in Decades