GM: share up as HSBC raises TP

(CercleFinance.com) - GM shares rose on Tuesday, with HSBC raising its target price for them from $41.
3 to $48, while maintaining its Buy rating on the stock, following the release of the automotive group's Q4 results.

At close the stock had risen by 1%, while the S&P 500 index ended up just 0.2%.

We continue to see the stock at a significant discount, despite the implementation of own initiatives to maintain earnings at record levels, and the prospect of significant share buy-backs, HSBC said.


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