Deutsche Bank upgraded GM to "buy" and hiked its price target to $60
The shares of General Motors Co (NYSE:GM) are up 1.2% in premarket trading after Deutsche Bank upgraded the stock to “buy” from “hold” and raised its price target to $60 from $56. The firm noted GM’s downside potential under a second Trump administration is already factored into its price, leaving room for “positive surprises.” Additionally, the analyst in question expects the auto giant to announce additional stock buybacks once its current authorization is completed.
General Motors stock boasts a solid 47.4% year-over-year gain, yet 13 of 23 covering brokerages still rate it a "hold" or worse. This leaves room for potential upgrades, which could generate additional tailwinds.
Despite its strong 12-month performance, GM is down 4.3% in 2025. Last week’s 2.3% rebound marked its first weekly win of the year. Since early December, the stock has mostly fluctuated between $50 and $54, with a few exceptions. Plus, the equity's 14-day Relative Strength Index (RSI) of 33.6 is hovering near "oversold" territory, which could support a potential rebound.