On the fly News and insights, exclusive to thefly.com

GM

General Motors

$44.89

-0.58 (-1.28%)

, F

Ford

$12.12

-0.26 (-2.10%)

04:59
10/13/17
10/13
04:59
10/13/17
04:59

General Motors upgraded to Overweight from Equal Weight at Barclays

Barclays analyst Brian Johnson upgraded General Motors (GM) to Overweight and raised his price target for the shares to $55 from $41. The automaker closed yesterday down 58c to $44.89. GM is set to recoup lost market capitalization from Tesla (TSLA), Johnson tells investors in a research note partially titled "Mary to Elon: Give me my market cap back." General Motors is making "significant progress" on electrification and autonomy, just as Tesla faces issues ramping production, the analyst writes. He expects the investor narrative to shift towards his view that GM may not be the "'dinosaur' that its low multiple would imply." Johnson says the potential "Tesla effect" on keeping GM's multiple compressed despite strong earnings can't be underestimated. The analyst this morning also downgraded Ford (F) to Equal Weight.

GM

General Motors

$44.89

-0.58 (-1.28%)

F

Ford

$12.12

-0.26 (-2.10%)

TSLA

Tesla

$355.68

1.08 (0.30%)

  • 24

    Oct

  • 26

    Oct

  • 06

    Nov

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.