We continue to be highly bullish on GM given its focus on an all-electric future and its cheap valuation. The number four automaker in the world has a large loyal customer base and is well ahead of rival, Ford in terms of its progress in the reduction of battery costs and the planned rollout of electric vehicles. The company had a decent quarter and is not expected to be too badly hit by the semiconductor shortage but its future upside from EVs is far from factored into the stock price. The company’s majority stake in Cruise, an autonomous-vehicles focused entity that is richly valued at $30 billion, is also not factored into GM’s stock price. We maintain our ‘Buy’ recommendation on GM with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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