General Motors price target raised to $62 from $59 at Mizuho

Mizuho analyst Vijay Rakesh raised the firm’s price target on General Motors (GM) to $62 from $59 and keeps an Outperform rating on the shares. Despite heavy investment in electric vehicles over the past few years, GM is well positioned to weather an EV slowdown with a profitable mix shift to internal combustion engine and the return of the low-cost Bolt in 2025, the analyst tells investors in a research note. The firm says GM’s internal combustion engine portfolio offers a strong market leading position and above-average margins to help drive free cash flow to offset any near-term EV losses from a potentially slower ramp.