General Motors stock is trading near its 52-week high, showing strong financial performance and potential growth.

From Nasdaq: 2024-09-03 10:03:00

General Motors (GM) stock has been performing well, trading close to $50/share and near its 52-week high. With a market cap of over $55 billion and a 16.2% share of the U.S. auto market, GM is investing heavily in eco-friendly vehicles to stay ahead in the electric and autonomous mobility sector.

GM has exceeded profit estimates consistently, with a 38% YTD stock surge and rising earnings estimates for 2024 and 2025. The stock’s forward P/E valuation of 4.98, P/CF ratio of 2.95, strong cash flow, and attractive value metrics make it a compelling investment choice.

Here are five reasons to be bullish on GM: cost-containment efforts, strength in the North American market, progress in electrification with models like the Hummer EV, advancements in Cruise’s self-driving unit, and strong financials with a significant share buyback program. Analysts project a potential upside of nearly 12% for GM stock with a Zacks Rank #2 (Buy) and VGM Score of A.



Read more at Nasdaq: Trading Near 52-Week High, Why GM Stock is Still Worth Buying Now