General Motors price target raised to $48 from $45 at Piper Sandler

Piper Sandler analyst Alexander Potter raised the firm’s price target on General Motors (GM) to $48 from $45 and keeps a Neutral rating on the shares. GM has established itself as the best Detroit-based automaker and management deserves credit for solid execution in recent years, the analyst tells investors in a research note. The firm believes the company’s buybacks and a low multiple provide downside protection for the shares.