Wedbush has raised its price target on General Motors for the third time in four months, as the company’s stock continues to climb despite previous challenges with tariffs and policy changes.
The firm increased its price target on GM from $55 to $65 in mid-August, then to $75 in October, and has now hiked it to $95.
The target implies an 18% potential upside from Wednesday’s closing price of $80.51.
Despite posting losses over the past two days, the stock reached an all-time high of $83.04 on Tuesday before ending the session roughly flat.
Over the past twelve months, GM‘s share price has risen over 60%.
Its stock began 2025 trading at around $50, but fell to a yearly low of $41.28 in early April.
Detroit automakers’ stocks were impacted by global tensions over US tariffs on imported vehicles and auto parts, since they rely heavily on Mexico and Canada for production.
Since April, the share value has nearly doubled.
Wedbush View
In a new research note, available on PriceTarget, analyst Dan Ives wrote that Wedbush is maintaining its Outperform rating on the Detroit automaker.
According to the analyst, “the company continues to navigate the macro storms, heading into 2026 with a marquee focus on driving cash flow growth.”
Upon reporting its third quarter financial earnings, CEO Mary Barra said GM was increasing their full-year guidance, “underscoring our confidence in the company’s trajectory.”
The automaker beat Wall Street estimates in revenue, adjusted earnings per share and operating income. The latter was 24.2% above expectations of $2.72 billion.
GM posted a total revenue of $48.59 billion, rising quarter over quarter and slightly decreasing from a year ago.
“We believe Barra & Co. are prepared for all options on the table as it balances its ICE and EV strategies,” Wedbush’s analyst wrote on Thursday.
Ives added that he sees the company “embarking down a major path of growth ahead with ICE models starting to make up a larger portion of its business.”
EV Strategy Change
In the words of Ives, the results are being reached through a “strong ICE [internal combustion engine] business,” while the company is “executing better than its auto peers who have struggled in the EV transition.”
US EV sales have fallen since the federal tax credit expired on September 30, following a surge in demand that boosted third-quarter results.
General Motors‘ reassessment of its EV strategy has led to a $1.6 billion loss, with several models being cut from production, contracts terminated, and related layoffs.
Additionally, GM announced it is ending its electric commercial van business, which competed with Rivian, leaving the future of its CAMI plant in Canada uncertain.
The company is set to recover from this impairment, while other automakers have reported even larger losses from their EV production cutbacks.
Ford, also headquartered in Michigan, is estimated to have lost over $10 billion on its EV unit ‘Model e’ over the past two years.
After announcing its EV Platform four months ago, the company has now announced a $19.5 billion write-down on Monday as it refocuses on ICE and hybrid models.
