General Motors Co (NYSE:GM) shares are ascending on Thursday after Piper Sandler upgraded the stock from Neutral to Overweight and lifted its price target.
What To Know: Piper Sandler analyst Alexander Potter raised General Motors’ price target from $66 to $98, a nearly 50% boost.
Potter noted that GM "makes a lot of money" and has been one of the firm's strongest performers over the past year, according to Investing.com.
The firm also highlighted GM's relatively low exposure to Chinese competition, saying the company is well‑positioned to keep generating cash, maintain pricing power and continue buying back stock. Piper Sandler expects analysts' earnings estimates for GM to keep trending higher, calling the setup "positive" enough to justify both the upgrade and the big price‑target jump.
The bullish call comes as General Motors continues to perform well in the electric‑vehicle market. In 2025, the company landed three models in the top 10 bestselling EVs in the U.S., which is more than any other automaker. The Chevrolet Equinox EV led the entire market with 57,195 units sold, more than doubling its sales from the prior year.
GM also placed the Chevy Blazer EV at No. 6 with 22,637 units sold and the Cadillac Lyriq at No. 8 with 20,971 units.
GM Analyst Ratings
Several analysts have recently updated their ratings for General Motors, with most setting higher target prices. As previously mentioned, Piper Sandler upgraded its rating to Overweight from Neutral and increased the target from $66.00 to $98.00. Similarly, Wedbush maintained its Outperform rating and raised its target from $75.00 to $95.00 on Dec. 18.
Earlier in December, UBS and Goldman Sachs both maintained their buy ratings for General Motors, with revised targets of $97.00 and $93.00, up from $85.00 and $81.00 respectively. However, Wells Fargo maintained an Underweight rating and a low target of $48.00, a slight increase from the previous $46.00.
GM Price Action: General Motors shares were up 3.64% at $84.90 at the time of publication on Thursday. The stock is trading at a new 52-week high, according to Benzinga Pro.
Read Next:
Image: Formatoriginal/Shutterstock
