UBS hikes General Motors rating to 'buy'
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Shares of General Motors GM.N up 2.4% at $60 in morning trade
UBS Global Research upgrades GM stock rating to "buy" from "neutral"
"While tariffs have added costs that GM won’t pass through to the consumer, we believe GM has a number of levers at their disposal to offset the headwind" - brokerage
Raises PT to $81 from $56, a 38.3% upside to GM's last close
Brokerage says it views GM as a potential beneficiary of U.S. rate cuts and capex cycles
Earlier this week, Citi also upped PT on GM
Median PT of 29 brokerages covering the stock is $62 - data compiled by LSEG
Including session moves, stock up 12.5% YTD
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