- LONDON: Barclays Capital cut price targets on several US auto companies including Ford Motor and GM after the recent pullback in their shares.
“We outline three global sales scenarios ... continued slow recovery, sales stall and double dip,” analysts at Barclays said in a note.
The brokerage said GM, Dana Holding, Lear Corp. and Tenneco continued to be its top picks because of their cash balances and exposure to BRIC countries.
With revised price targets, these stocks continue to have some of the largest upside potential within Barclays’ coverage in both a slow recovery or stalled sales scenario, the analysts said.