General Motors (GM) gets a "Buy" Rating

Benchmark has initiated coverage on General Motors (NYSE: GM) with a “Buy” rating, citing the automaker’s growing strength in the U.S. electric vehicle (EV) market and disciplined capital deployment. The firm set a price target of $65, reflecting confidence in GM’s strategy to balance traditional internal combustion engine (ICE) vehicles with an expanding EV lineup.

Chevrolet, GM’s flagship brand, has now become the second-best-selling EV brand in the U.S., surpassing Ford. Through May, Chevrolet delivered roughly 37,000 EVs, part of GM’s total 62,000 EV sales year-to-date. The company’s U.S. EV market share has more than doubled over the past year, climbing to approximately 15.5%.

As of the latest trading session, GM shares are priced at $53.69, with a market cap near $51 billion. The stock has seen renewed interest as investors respond to its capital return plans and improving EV execution.

Benchmark highlighted GM’s growing free cash flow, multi-billion-dollar share buybacks, and effective cost control as key reasons for the bullish stance. The positive outlook suggests Wall Street is warming up to GM’s strategy of scaling EV production while remaining profitable in its legacy business.

 
 
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