BUZZ-Deutsche Bank upgrades GM, expects stock to outperform Ford in 2025

Updates

Deutsche Bank upgrades General Motors GM.N to "buy" from "hold", expects company to continue outperforming crosstown rival Ford's F.N stock in 2025

"While there are concerns about the cycle and potential policies of the new Trump administration, our view is that these risks are already very well-known and there's room for positive surprises," says brokerage

It expects GM to report toward the high end of its guidance range in Q4, while Ford's quarterly results should be more in line

U.S. President Donald Trump said he could impose tariffs on Canada and Mexico soon, and revoked the previous administration's executive order on EVs that sought to ensure half of all new vehicles sold in the U.S. by 2030 were electric

However, CFRA Research analyst Garrett Nelson said he thinks Trump might delay the implementation of tariffs until Feb. 1 and added that there may still be a decent chance the tariffs won't go into effect

GM up ~5.5% at $53.76 and F up ~2% at $10.38 in afternoon trade

GM's shares rose over 48% in 2024, while F lost 17.6%

(Reporting by Nathan Gomes in Bengaluru)

((Nathan.Gomes@thomsonreuters.com;))