Morgan Stanley slashes price target on General Motors stock
In this article:
Yahoo Finance Live's Akiko Fujita discusses stock performance for General Motors after Morgan Stanley slashes its price target.
Video Transcript
AKIKO FUJITA: Well, shares of General Motors are falling after a bearish call from Morgan Stanley. Analyst Adam Jonas lowering his price target on the stock from $42 a share to $30, citing a weak outlook for the car maker's China business, although he did maintain an equal weight rating on the stock. The company posted 24% growth in vehicle sales during the third quarter. That was compared to the same period a year ago. The stock is down roughly 45% year to date.
