Is This Growing Dividend Stock About to Triple in 2024?
There's been some doom and gloom surrounding Detroit automaker General Motors (NYSE: GM). It hit a massive speed bump with its autonomous robotaxi start-up, Cruise, when California regulators deemed the cars unsafe for roads. Warren Buffett also exited his remaining position in the company, potentially bringing doubts about the company to the surface.
On the bright side, GM recently boosted the value returned to shareholders through an increased dividend and share buybacks, and one analyst thinks the automaker could triple from its current price point. Let's dig in.
Amid the recent negative news, General Motors announced it is reinstating its full-year 2023 earnings guidance. GM had twice raised its full-year earnings guidance before withdrawing it during the third quarter due to tense labor negotiations. Further, GM announced a $10 billion accelerated share repurchase program and a 33% increase to its common stock dividend.
Source Fool.com
General Motors Corp Stock
Our community is currently high on General Motors Corp with 32 Buy predictions and 5 Sell predictions.
As a result the target price of 46 € shows a slightly positive potential of 10.39% compared to the current price of 41.67 € for General Motors Corp.
