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GM

General Motors

$33.86

-0.34 (-0.99%)

10:31
10/02/18
10/02
10:31
10/02/18
10:31

General Motors says delivered nearly 700,000 vehicles in Q3

General Motors dealers delivered 694,638 vehicles in the third quarter of 2018 in the United States, with average transaction prices rising about $700 per unit year over year to a new third quarter record of $35,974. "We entered the quarter with very lean inventories of our 2018 model full-size pickups, so we focused on driving a very strong mix of SUVs, crossovers and mid-size pickups," said Kurt McNeil, U.S. vice president of Sales Operations. "We also transitioned to the 2019 model year far earlier than some key competitors, which allowed us to reduce incentives while others raised them sharply." Sales declined 11% year over year, with the impact of hurricanes sharply increasing industry and GM sales a year ago and depressing them somewhat this year. The third quarter light vehicle SAAR was 17.2 million units in 2017 and 16.9 million in 2018.

  • 09

    Oct

GM General Motors
$33.86

-0.34 (-0.99%)

09/19/18
VERF
09/19/18
NO CHANGE
VERF
Sell
E-tron may not be 'Tesla killer,' but still a 'real risk,' says Vertical Group
After attending Audi's (AUDVF) launch event for its e-tron SUV, Vertical Group analyst Gordon Johnson said he sees Audi's foray in the EV space as "a real risk" to Tesla (TSLA) and other EV auto makers including Chevy (GM) and Ford (F). The Electrify America charging network, owned by a JV of Audi parent Volkswagen (VLKAY) and funded by "Dieselgate," positions Audi's fast-charging ambitions among the most robust, if not the most robust, in the U.S. currently, added Johnson. He does not see Audi's forthcoming e-tron as a "TSLA Killer," but does not "see it a stretch to think of it as a potential TSLA Model X killer," he concludes in his note to investors. Johnson keeps a Sell rating on Tesla shares.
09/11/18
09/11/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Krystal Biotech (KRYS) initiated with an Overweight at Cantor Fitzgerald. 2. Melinta Therapeutics (MLNT) initiated with a Buy at H.C. Wainwright and Jefferies. 3. Burlington Stores (BURL) initiated with an Overweight at Barclays. 4. General Motors (GM) reinstated with a Neutral at Goldman Sachs. 5. SailPoint (SAIL) initiated with a Market Perform at Northland. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/18
RBCM
09/11/18
NO CHANGE
Target $49
RBCM
Outperform
General Motors valuation reflects 'low expectations', says RBC Capital
RBC Capital analyst Joseph Spak kept his Outperform rating and $49 price target on General Motors after hosting meetings with its CEO Mary Barra and CFO Dhivya Suryadevara. The analyst says he remains positive on the company's execution, adding that while investors are focused on China and the direction of earnings in FY19, he believes that the market expectations are already "very low" with forward valuation multiple ex-Cruise and ex-cash at just over 3.5-times earnings. Spak also cites the positives for General Motors from the " recovering volume on light-duty pickups", cost savings, and expectations of strong performance in the mid-size CUV class.
09/11/18
GSCO
09/11/18
INITIATION
Target $36
GSCO
Neutral
General Motors reinstated with a Neutral at Goldman Sachs
Goldman Sachs analyst David Tamberrino reinstated coverage of General Motors with a Neutral rating and $36 price target. Before going Not Rated on the name, Goldman had a Sell rating on the shares. The path forward for the shares is "somewhat murky" with a "more challenged" backdrop in North America and growing concerns about the potential for China joint venture income to see further pressure, Tamberrino tells investors in a research note. The analyst sees positives from GM's pickup truck refresh and Korea restructuring accruing in 2019, but still expects a "downward trajectory" to earnings and free cash flow next year. However, he believes the market is prepping for a flat-to-down earnings trajectory and views the stock's risk/reward as balanced at current levels.

TODAY'S FREE FLY STORIES

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IMDZ

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MRK

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ANET

Arista Networks

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-3.58 (-1.32%)

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NKE

Nike

$83.97

-0.87 (-1.03%)

10:40
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On The Fly
Analyst sees 'minimal' lasting damage to Nike brand after Duke star's shoe splits »

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WFT

Weatherford

$0.79

-0.0263 (-3.21%)

10:40
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Options
10.1K Weatherford Mar 1 calls trade as shares drop 2c to 80c »

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KAR

KAR Auction

$48.30

1.56 (3.34%)

10:37
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NCLH

Norwegian Cruise Line

$55.71

1.99 (3.70%)

10:32
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Norwegian Cruise Line analyst commentary  »

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BSX

Boston Scientific

$40.03

-0.1 (-0.25%)

10:30
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Options
Bullish option flow in Boston Scientific »

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SNPS

Synopsys

$100.68

-2.3 (-2.23%)

10:26
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NWL

Newell Brands

$17.18

0.05 (0.29%)

10:25
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Periodicals
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  • 21

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Conference/Events
Morgan Stanley consumer goods analysts to hold analyst/industry conference call »

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BIIB

Biogen

$323.78

-11.23 (-3.35%)

, ESALY

Eisai

$0.00

(0.00%)

10:25
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Conference/Events
JPMorgan large-cap biotech analysts to hold an analyst/industry conference call »

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BIIB

Biogen

$323.78

-11.23 (-3.35%)

ESALY

Eisai

$0.00

(0.00%)

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EEM

iShares MSCI Emerging Markets ETF

$42.48

-0.175 (-0.41%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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HOME

At Home Group

$23.84

0.01 (0.04%)

, HLIT

Harmonic

$5.51

0.19 (3.57%)

10:11
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Initiation
Fly Intel: Top five analyst initiations »

Catch up on today's…

HOME

At Home Group

$23.84

0.01 (0.04%)

HLIT

Harmonic

$5.51

0.19 (3.57%)

ATKR

Atkore

$24.08

-0.09 (-0.37%)

BTX

BioTime

$1.24

0.08 (6.90%)

VRCA

Verrica Pharmaceuticals

$10.99

(0.00%)

APHA

Aphria

$10.40

0.24 (2.36%)

KSHB

KushCo Holdings

$0.00

(0.00%)

HEXO

HEXO Corp

$6.11

0.13 (2.17%)

CGC

Canopy Growth

$45.44

-0.74 (-1.60%)

ACB

Aurora Cannabis

$7.18

0.12 (1.70%)

TLRY

Tilray

$80.25

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GRMN

Garmin

$82.02

-1 (-1.20%)

, BIIB

Biogen

$324.13

-10.88 (-3.25%)

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GRMN

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-1 (-1.20%)

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FARO

Faro Technologies

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DHI

D.R. Horton

$39.91

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0.16 (0.33%)

GIS

General Mills

$46.68

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