Lead autos analyst Daniel Roeska wrote in a note Monday morning that while GM shares have jumped over 85% since November of last year, there are several headwinds on the way that could dampen the stock’s run.
“We think there is a risk the company will announce additional capital requirements during its October CMD . We want to wait and see which updates GM shares," Roeska wrote. “We expect the company to further lower its BEV guidance. As a result, variable profit on EVs will be pushed back, and EBIT targets will be delayed to next year at best,” he wrote.
This all leads to Roeska’s rationale for downgrading GM to Market Perform and a lower $53 price target.While Roeska’s take is likely moving the stock lower on Monday, there is some bullishness on the Street too. On Monday, HSBC analysts named GM its top pick over its Big Three rivals, Ford , Ford is dealing with the possibility of a strike at the tool and die unit at one of its F-150 assembly plants.
Part of the District Line and London Overground have been suspended all day, after heavy rain hit the capital’s transport network overnight. There has been no District Line service between Turnham Green and Richmond, while the London Overground was also suspended between South Acton and Richmond.
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