General Motors price target raised to $70 from $64 at Barclays

Barclays raised the firm’s price target on General Motors (GM) to $70 from $64 and keeps an Overweight rating on the shares. The company’s Q3 beat continues its trajectory of strong gross margin earnings and robust free cash flow generation, the analyst tells investors in a research note. The firm says that while the market will determine what multiple GM ultimately receives, it “clearly deserves to be far more than 5x.”