Deutsche Bank cuts rating on GM, citing future liquidity issues
The bank’s Emmanuel Rosner slashed estimates for 2020 ebitda across his coverage universe by an average of 30%
07 April 2020 - 16:29
New York — Deutsche Bank’s Emmanuel Rosner downgraded General Motors (GM) for the first time since he initiated coverage on the vehicle maker more than a year ago, warning that it would run low on cash if production shutdowns continue for months.
GM and Ford have only 15-17 weeks of liquidity to ride out current conditions before they hit the minimum levels of cash they need to run their business, Rosner said in a report on Tuesday. He cut his rating on GM to hold and lowered his price target to $25 from $41...
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