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Many of Wall Street’s analysts are bullish on GM in 2011, but Morgan Stanley is the most optimistic.From the Detroit News:
Morgan Stanley had the most optimistic outlook [JPMorgan, Barclays, and Citigroup, are also bullish], estimating GM’s stock could hit $50 a share next year. That would put the government in range of breaking even on its investment in GM.
Analysts at Morgan Stanley estimate the automaker could generate $10 billion or more in free cash flow for each of the next five years.
“Finally, GM can worry about revenues, not costs,” its analysts wrote in the Morgan Stanley report.
No wonder the headline of a report the bank issued yesterday was apparently, “Re-in-car-nation.”
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