UBS hikes General Motors rating to 'buy'

** 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