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Upgrade Alert for General Motors (GM)

By David Diaz

General Motors (NYSE:GM) was upgraded from Equal Weight to Overweight at Morgan Stanley today. The stock closed yesterday at $31.72 on volume of 32.2 million shares, above average daily volume of 11.7 million.

General Motors Co. manufactures and markets new cars and trucks. The Company offers features for special needs drivers, OnStar vehicle protection, service, parts, accessories, maintenance, XM satellite radio, features for commercial owners, and more. General Motors offers its vehicles and services worldwide.

General Motors share prices have moved between a 52-week high of $36.88 and a 52-week low of $24.62 and closed yesterday at 29% above that low price at $31.72 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Potential upside of 33.1% exists for General Motors, based on a current level of $31.72 and analysts' average consensus price target of $42.22. The stock should hit resistance at its 200-day moving average (MA) of $31.75, as well as support at its 50-day MA of $31.00.

SmarTrend is tracking the current trend status for General Motors and will alert subscribers who have GM in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades General Motors

Ticker(s): GM