General Motors Stock Falls As Analyst Sees Caution Signs On Road Ahead
General Motors Co (NYSE:GM) shares are trading lower Monday after Bernstein downgraded the stock from Outperform to Market Perform.
What Happened: Bernstein analyst Adrian Yanoshik downgraded General Motors on Monday and set a price target of $53, citing valuation concerns heading into the company’s October Capital Markets Day.
“GM shares have appreciated +85% since last November, but now our data signals rising earnings headwinds, and we think there is a risk the company will announce additional capital requirements during its October CMD. We want to wait and see,” the Bernstein analyst said in a new note to clients.
GM shares are up approximately 33% since the start of the year and have been trending higher since last October. GM refocused on shareholder returns toward the …
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