Deutsche Bank analyst Rod Lache said Greenlight Capital's proposal to unlock value it sees in GM's shares underscores the stock's low valuation and the pressure on management to perform. Lache, who thinks GM needs to continue driving more sustainable earnings and cash flow to achieve the valuation upside that Greenlight sees, keeps a Hold rating on the stock.

Bernstein analyst Daniel Roeska initiated coverage of General Motors with an Outperform rating and $55 price target. The company is pivoting from "lofty" long-term targets back to more tangible shareholder returns, the analyst tells investors in a research note. The firm expects GM's 2024 performance to push the stock higher, saying management "has four distinct opportunities to realize more value still." Bernstein is encouraged by the company's stronger cash flows and expects GM to return over $4.5B to shareholders per year.

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.