Citi Initiates Coverage on Ford and General Motors, Says GM Is Better Positioned

Citi Initiates Coverage on Ford and General Motors, Says GM Is Better Positioned

Citi Bank started Wednesday coverage on the Detroit automakers Ford and General Motors, with considerably higher upside potential for the Mary Barra-led automaker. The New York-based firm set a price target of $62 on GM shares, with a Buy rating. Based on Tuesday’s closing price of $45.16, the target implies an upside potential of 37%. Citi rated Ford‘s stock as Neutral while seting a price target of $10. The company previously closed at $9.65, …

US President Donald Trump's actions and the ongoing tariff war have created great uncertainty in business. One of Trump's slogans is about returning production to the US, but one of the largest US car companies, General Motors, has confirmed that they will not move their electric car production to America, and will continue to manufacture the cars in Mexico. GM has a factory in the Mexican city of Ramos-Arizpe, which is located near the state of…