General Motors Co.’s “ambitious” roadmap for electric-vehicle growth and profit got a reality check from Wall Street on Friday, with analysts saying the auto maker’s stock is likely to remain rangebound in the near term.
GM on Thursday said said it expects its EV portfolio in North America to be profitable in a couple of years as it ramps up EV capacity worldwide to 2 million EVs, including 1 million in North America.
“Plans/targets provided were better than we expected, but there are still some elements that seem vague so market unlikely to give full credit just yet,” RBC Capital analyst Joseph Spak said.
However, that combination of high-growth investments and margin dilution during a period of potentially weakening pricing “will cap the upside to shares” in a six- to 12-month horizon. “We remain at the bearish end of the Street for 2023,” Hummel said.
We've been saying this for a year. And in the end we will be proven right.
Do you think GM will succeed in EV's and MAKE their timeline? We say NOT A CHANCE.
Read Article