Bernstein raised the firm’s price target on General Motors (GM) to $55 from $53 and keeps a Market Perform rating on the shares. GM’s Q3 results showed a strong beat to consensus numbers, but a significant part of this was due to a pull-forward effect which will likely reverse in Q4 and see GM meet its guidance, the analyst tells investors in a research note. The firm remains cautious on GM given the risk of headwinds in the internal combustion engine business in North America in 2025.
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