General Motors Company (NYSE:GM) was downgraded by stock analysts at Argus from a “buy” rating to a “hold” rating in a research report issued on Monday, The Fly reports.
The analysts wrote, “Despite GM’s recent strong performance, we are concerned that 2016 will be the peak of the current cycle for U.S. auto sales,” Selesky mentioned. The analyst expects U.S. light vehicle sales in 2016 to rise only 1.1 percent from the 6 percent growth seen in 2015 and 7.7 in 2014.”We also expect slower growth in international sales, with declines in some emerging markets, and look for adjusted earnings growth to decline to 9.6 percent in 2016 from 64.6 percent in 2015,” Continue Reading...