Morgan Stanley reinstated General Motors with an Underweight and $28 price target. The firm believes GM's agreement to accelerate capital returns to investors is a popular short-term decision but raises questions longer-term by increasing both financial and strategic risks.

RBC Capital raised the firm's price target on General Motors to $58 from $56 and keeps an Outperform rating on the shares. The company's Q1 EBIT beat was "impressive" while its management remained bullish on its EV plans for 2024, with several key launches coming in the second half of the year, the analyst tells investors in a research note. RBC adds that GM investors should expect more buybacks to come in the future.

Citi raised the firm's price target on General Motors to $96 from $95 and keeps a Buy rating on the shares. The analyst increased estimates post the company's Q1 beat. GM remains the analyst's top pick. The company offered encouraging Q2 outlook commentary, suggesting further upside potential to the 2024 guide, and offered a confident tone around the electric vehicle outlook, the analyst tells investors in a research note. "Quarters like this continue to support the case that the now 5+yr running pushback on the stock has grown stale," contends Citi.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Notable gainers among liquid option names this morning include Globe Life (GL) $71.33 +4.94, Super Micro (SMCI) $764.85 +47.83, Danaher (DHR) $250.88 +14.79, Kimberly Clark (KMB) $136.87 +7.94, and General Motors (GM) $45.38 +2.17.

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Consensus $9.08. Raises FY24 adjusted EBITDA $12.5B-$14.5B from $12B-$14B. Sees FY24 capital spending $10.5B-$11.5B.