November 10, 2020
YOUR NEXT CAR WILL BE A VOLT:
UBS increases GM's price target to $50 on 'aggressive' EV plans; stock jumps 6% (Michael Wayland, 11/10/20, CNBC)
UBS analyst Patrick Hummel said GM is "fully back on track and likely enjoys strong momentum well into 2021," including its electric vehicle plans. Investors will start to see GM as more of an "aggressive" electric vehicle company over the next year or two, instead of a slow-growth manufacturer like the rest of the Detroit carmakers, he said."With a focus on crystallizing value of its EV strategy ... GM will likely get more credit for being a relative winner in the transition," Hummel wrote in an investor note late-Monday.
While we would have made money off of the GM bailout by holding the stock--not just off of TARP generally--President Obama was too much a capitalist to do so.
Posted by Orrin Judd at November 10, 2020 1:21 PM