Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Banc of America Upgrades GM to Neutral

From Standard & Poor's Equity Research

Banc of America upgrades General Motors (GM) to neutral from sell. Nissan Motor Co.'s board approves talks with GM over a possible alliance.

BofA analyst Ronald Tadross notes that Renault-Nissan's CEO, Carlos Ghosn, and support of investment in GM is counter to what he expected. He feels it is more likely than not to happen given his track record. He notes it would equate to positive management infusion that could yield short-term to medium-term benefits, and underscores 9.9% holder Tracinda's activist involvement. Tadross does not think a Renault- Nissan-GM combination has fundamental long-term merit, but this does not mean it will not happen.

The analyst raised his $15 price target to $30, as he expects investors to focus largely on enterprise value-to-EBITDA and other traditional metrics.

blog comments powered by Disqus