General Motors price target raised to $98 from $96 at Citi

Citi analyst Itay Michaeli raised the firm’s price target on General Motors to $98 from $96 and keeps a Buy rating on the shares. Shares were down 6% despite the Q2 beat and raise, but the firm doesn’t see any concerns or implications to 2025 and believe GM‘s second half outlook understandably and expectedly embeds conservatism, the analyst tells investors in a research note. Citi argues that results continue to outperform the macro backdrop, consensus estimates should increase, the free cash flow story is improving, and upcoming catalysts are apparent.