A survey of 15 analysts conducted by the NASDAQ 10 GM shares found a "strong buy" recommendation of placing on the market, two exhibition "buy" recommendations and the other valuation of the shares "Hold." No one was on the side of "Sales".
Maybe it's just the flood, lifting all boats, but General Motors stock has close its highest hit in more than two years - beat the $33 a share price tag set during the initial public offering in November 2010.
The resurgence comes as the entire stock market fees by a record to another, but also that that impressed investors by the power of the giant manufacturer are $865 million in the result for the first quarter of 2013 announced earlier this month.
Although it now three consecutive quarterly profits brought, GM still in the "early innings" of economic recovery ", said CEO Dan Akerson over the weekend in South Bend, Indiana, where he gave the commencement speech for Notre Dame business school graduates. GM said "on the threshold", the Executive Branch, the recovery of its investment grade debt rating back. Akerson also suggested, in his speech, that the manufacturer the S & P 500 will join "before too long."
GM has been removed from this stock index as it fell into bankruptcy in 2009.
A survey of 15 analysts conducted by the NASDAQ 10 GM shares found a "strong buy" recommendation of placing on the market, two exhibition "buy" recommendations and the other valuation of the shares "Hold." No one was on the side of "Sales".
GM stock has an almost 80% increase already it posted, since in July at only $18,85 per share Valley. The manufacturer had launched its IPO in November 2010 at $33 per share in life.
"It was a wild ride for GM investors," said Christian Mayes, automotive analyst at Edward Jones, the Detroit News Friday.
"What a comparison. It is day and night, "echoed Joe Phillippi, a longtime Wall Street auto analyst who now runs his own consulting firm, AutoTrends. But main source River is more cautious when it comes to, predictions, how high was the GM could rise. "I am not still not completely convinced."
The manufacturer has a number of challenges main points out, especially in Europe, where it has lost money 13 years in a row and most recently put in plans; place the latest in a series of turnaround European losses net led to a slight decline in the earnings in the first quarter compared to a $1 billion a year earlier.
"they have a long way to go to meat from the product line," he added that pointed out that the most GM get profits from the light truck side of the business.
While the Chevrolet Malibu far more poorly than GM expected has performed after its launch last year, have other new cars faring better were including the new Cadillac ATS. And the manufacturer has in the great and all seen a great improvement in his performance in a wide variety of quality and customer satisfaction surveys. It scored victories in six segments of the overall index of the quality of strategic vision released last week. That was twice as many as Japanese giant Toyota.
Since the beginning of this year alone, GM has increased some 14% of value, which comes as good news for consumers. The US Treasury has quickly sold out of stock there in Exchange for its 2009 bailout of the automaker. And every penny increase add up quickly.
After selling off significant tranches of GM shares earlier this year, Government 16% to the manufacturer, with plans to stop completely until April 2014. The current upturn in the value could accelerate.
But there is little doubt who will ultimately remain taxpayers with billions of bailout losses. To break even, the remaining 241,7 million shares for $78 per share would have to go. Even the most optimistic analysts expect you to come not GM close to that level any time soon.
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