GM: shares weak as Goldman downgrades on valuation.

(CercleFinance.com) - GM shares are currently down 2.
5% at 43.5 dollars, greater than a 0.1 percent-decline in the S&P 500 index, after Goldman Sachs downgraded its rating for the US carmaker to "sell," citing current valuation levels.

Maintaining its cautious view on the auto sector, the broker says it sees in particular a downward inflection in GM earnings looking ahead into 2018.

"So, following the share's recent run (+28% since August 18 versus +14% at Ford), we downgrade GM to sell from neutral, and see 28% downside potential to shares with our 32 dollar 12-month price target," Goldman says.

The broker sees Ford shares as "more fairly valued".

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