Barclays analyst Dan Levy raised price targets on General Motors, Ford and Tesla while cutting the Geely-backed EV brand Polestar by half.
Levy raised his price target on GM to $100 from $85 while maintaining an Overweight rating.
Based on Thursday’s closing price of $81.14, the target implies upside of approximately 23%.
The Detroit automaker sold approximately 2.85 million vehicles in the United States last year, a 5.5% increase from 2024, reclaiming its position as the top-selling automaker in the country ahead of Toyota, which sold 2.5 million.
Separately, the Federal Deposit Insurance Corporation announced Thursday it had approved deposit insurance applications from both GM and Ford, clearing the way for the automakers to establish industrial banks in Utah and begin providing financial services.
The conditional approvals require the companies to launch lending operations within 12 months.
GM shares closed nearly flat Thursday at $81.14.
Ford
Levy raised his price target on Ford to $13 from $12 while maintaining an Equalweight rating.
Based on Thursday’s closing price of $13.71, the target still implies downside of approximately 5%.
The update comes amid scrutiny of Ford‘s potential ties to Chinese suppliers.
White House trade adviser Peter Navarro criticized Ford earlier this month over reported discussions with BYD for hybrid vehicle batteries, warning the partnership would strengthen a Chinese competitor while exposing Ford to supply chain risks.
“So Ford wants to simultaneously prop up a Chinese competitor’s supply chain and make it more vulnerable to that same supply chain extortion? What could go wrong here?” Navarro wrote on X.
The comments followed a Wall Street Journal report that Ford and BYD are in discussions over a potential battery supply arrangement for some of the Detroit automaker’s hybrid models.
Polestar
Levy slashed his price target on Polestar to $15 from $30 on a split-adjusted basis — a 50% reduction — while maintaining an Underweight rating.
The brand led by the former Nikola and Opel CEO Michael Loscheller executed a one-for-thirty reverse stock split in November as the electric vehicle maker sought to avoid a Nasdaq delisting.
The prior $1 price target was equivalent to $30 after the consolidation.
The new $15 target implies downside of approximately 12.5% from Thursday’s closing price of $17.15.
Polestar shares fell more than 6% in Thursday’s session.
Tesla
Levy raised his price target on Tesla to $360 from $350 while maintaining an Equalweight rating.
Based on Thursday’s closing price of $449.36, the target implies downside of approximately 20%.
Tesla shares jumped more than 4% on Thursday after the company began offering robotaxi rides without safety monitors to the public in Austin — the first time since the service launched in June that riders can take fully autonomous rides without staff in the vehicle.
“While pulling the safety monitor is a notable accomplishment, we caution against over-optimism in Tesla’s robotaxi narrative, especially with questions on scaling still outstanding,” Levy wrote.
The public launch without safety monitors came roughly a month after Tesla started testing without safety drivers in mid-December.
