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General Motors Company (GM), headquartered in Detroit, Michigan, with a market cap of $58 billion, is a global leader in automotive manufacturing and innovation. Renowned for its extensive portfolio of vehicles and cutting-edge technologies, GM focuses on delivering exceptional mobility solutions through its commitment to sustainability, electrification, and advanced engineering.

Companies with a market cap of $10 billion or more are classified as “large-cap stocks,” General Motors exemplifies this category. By leveraging advanced engineering, cutting-edge technology, and a commitment to electrification, GM delivers reliable and future-ready transportation solutions, empowering customers with vehicles that combine performance, efficiency, and environmental consciousness.

The multinational automotive company has fallen 13.9% from its 52-week high of $61.24, which it hit on Nov. 25. Shares of GM are up 11.2% over the past three months, underperforming the broader Nasdaq Composite’s ($NASX) 16.9% gain during the same time frame.

In the long term, GM has achieved a 46.7% gain on a YTD basis and a 56.2% increase over the past 52 weeks. By comparison, the NASX has risen 31.5% in 2024 and 37% over the same period.

However, GM has consistently traded above its 50-day moving average since early October and its 200-day moving average over the past year, indicating a bullish trend.

On Oct. 22, GM stock rallied nearly 10% following the release of its robust Q3 results. Adjusted EPS came in at $2.96, exceeding Wall Street estimates of $2.49 and marking a 28.9% year-over-year increase. Revenue rose 10.5% to $48.8 billion, surpassing expectations. The automaker also updated its full-year EPS guidance to a range of $10 to $10.50, signaling continued confidence in its financial outlook.

General Motors' competitor, Ford Motor Company (F), has notably underperformed GM over the past year. Ford's shares have dropped 13% in 2024 and 3.7% over the past year, in stark contrast to GM's double-digit gains during the same period.

Wall Street analysts are cautiously optimistic on GM's prospects. Of the 25 analysts covering the stock, the consensus rating is “Moderate Buy,” with a mean price target of $60.12, indicating a potential upside of 14.1% from its current level.

On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. More news from Barchart

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