Analyst Upgrades GM, Predicts No Strike
From the Associated Press
General Motors Corp. stock rose after an analyst upgraded the company’s shares and said the automaker probably would avoid a devastating strike at parts supplier Delphi Corp.
Brett Hoselton of KeyBanc Capital Markets upgraded GM’s shares to “buy” from “hold” and said he believed Delphi, GM and the United Auto Workers would reach an agreement as early as June that would avoid a strike.
Hoselton also said GM’s earnings should improve this year and next because of the company’s cost-cutting efforts and its new lineup of full-size trucks.
GM shares rose 28 cents to $26.09.
