Deutsche Bank cuts GM stock rating to hold, slashes price target

Published 14/04/2025, 13:30
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On Monday, Deutsche Bank (ETR:DBKGn) analysts revised their stance on General Motors (NYSE:GM) stock, downgrading it from Buy to Hold. They have also adjusted the price target significantly from $58.00 to $43.00. The analysts cited concerns regarding structural uncertainty in U.S. industrial and tariff policies as the primary reason for the downgrade. They acknowledged that while General Motors is likely to report strong first-quarter results that may surpass expectations, they anticipate the company will retract its full-year guidance to address the challenges posed by tariffs. Currently trading at $9.33, GM maintains a P/E ratio of 6.28, significantly below industry averages. InvestingPro analysis shows analyst price targets ranging from $7 to $17, reflecting mixed market sentiment.

The analysts at Deutsche Bank expressed their hesitation in downgrading General Motors but felt compelled to do so due to the potential long-term impact of the current tariff environment on the automaker. The concern is that the stock, despite trading at a low multiple, could become an impaired asset over the next several years. This outlook reflects the broader economic uncertainties that manufacturers like General Motors are facing, especially with regard to international trade and tariffs. According to InvestingPro data, GM maintains an impressive 8.04% dividend yield and holds a FAIR financial health score, suggesting resilience despite market challenges.

The revision in General Motors’ stock rating and price target by Deutsche Bank follows an industry-wide trend of automakers having to navigate a complex and evolving policy landscape. The firm’s analysts believe that both General Motors and its competitor, Ford, will likely have to withdraw their full-year guidance as they work to mitigate the effects of tariffs. With annual revenue of $185 billion and a market capitalization of $37.1 billion, GM remains a dominant force in the automotive sector. Get deeper insights into GM’s financial health and future prospects with a comprehensive Pro Research Report, available exclusively on InvestingPro.

Given the current market conditions, Deutsche Bank’s analysts have adjusted their expectations for General Motors. They noted that while the automaker’s stock is currently valued at a low multiple, which typically suggests a buying opportunity, the ongoing industrial policy concerns have overshadowed this aspect. The analysts have therefore taken a more cautious approach until there is more clarity on the tariff situation.

In summary, Deutsche Bank’s downgrade of General Motors’ stock rating to Hold and the reduction of its price target to $43.00 reflect the uncertainties that the automotive industry faces amid changing U.S. tariff policies. The analysts foresee that these challenges could affect General Motors’ financial performance and stock value in the coming years.

In other recent news, Ford’s U.S. vehicle sales for the first quarter of 2025 experienced a slight decrease of 1.3%, totaling 501,291 vehicles sold. Notably, sales of electrified vehicles, including hybrids and fully electric models, rose by 25.5%, with hybrid vehicles increasing by 32.9% and electric vehicles by 11.5%. However, sales of internal combustion vehicles fell by 4.8%. In the SUV segment, Ford saw a 16.7% decline, while truck sales surged by 15%, driven by a 24.5% rise in the F-Series and a significant 677.5% increase in Ranger sales. Meanwhile, the National Highway Traffic Safety Administration announced a recall of approximately 105,322 Ford Expedition and Lincoln Navigator (ELI:NVGR) SUVs due to seat belt concerns. In a separate development, Ford, along with other major U.S. automakers, is lobbying for tariff exclusions on vehicle parts amid upcoming trade levies. Deutsche Bank has adjusted its 2025 U.S. auto sales forecast, citing tariff concerns, and projects a Seasonally Adjusted Annual Rate (SAAR) of 15.4 million units, down from a previous estimate of 16 million.

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