💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

GM, Ford rated Outperform by JPM's Brinkman; Tesla at Underweight

Published 07/20/2018, 06:58 PM
© Reuters.  GM, Ford rated Outperform by JPM's Brinkman; Tesla at Underweight
GM
-
F
-
TSLA
-
  • General Motors (NYSE:GM) and Ford (NYSE:F) are reiterated with Outperform ratings by J.P. Morgan's Ryan Brinkman ahead of next Wednesday's anticipated Q2 earnings reports from the two automakers, although he thinks only GM will beat consensus estimates.
  • GM is Brinkman's favorite auto stock going into the reports, given what he expects will be a "softer" quarter for Ford; he has a $58 price target for GM and a $14 target for Ford.
  • But the analyst rates Tesla (NASDAQ:TSLA) at Underweight and sees more than 40% downside for the shares, given his $180 price target.
  • Brinkman sees the potential for a "large loss and accompanying large cash outflow" at TSLA, one that makes the possibility of GAAP profitability and positive cash generation in H2 a "bridge too far in investor minds."
  • TSLA's next earnings announcement is scheduled for Aug. 1.


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.