Buy these two underperforming automakers' stocks, UBS says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

A new analyst has taken over coverage of the industry at the firm.

Two major automakers have caught the eye of UBS as a new analyst takes over coverage of the sector. Analyst Joseph Spak starts his coverage of Ford and General Motors with buy ratings. Before he became the analyst covering the industry, UBS had a sell rating on Ford and neutral rating on GM. Both stocks have underperformed the S & P 500 this year. His $15 price target for Ford implies an upside of 20.5% over Tuesday's close. Ford, which climbed 1.

He said the pro software should provide long-term upside, with upgrades considered easier to ask for because they are tied to return on investments. Spak noted that the company has an approximately $20 billion opportunity through upgrades and price increases. On the other hand, GM shares have "concerns priced in and overdone in our view," he said. Despite adding 1.1% in Wednesday premarket trading, GM is down 0.5% year to date. Spak's $44 price target for shares signals a 31.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Buy this payments company after investors bailed on the stock last week, Baird saysStock in this payments company should recover after a brief website outage last week, according to Baird.
Source: CNBC - 🏆 12. / 72 Read more »