JPMorgan Sees Strong Positive Reaction to General Motors Shares Following Better-Than-Expected 3Q Results

General Motors (GM) earnings per share is now thought to track toward the higher end of the range of $6.10 to $5.90, and possibly even exceed the range depending upon macroeconomic conditions after the company delivered stronger-than-expected results and guidance, JPMorgan said.

The bank said it expects a strong positive reaction to General Motors better-than-expected third-quarter result and stronger-than-expected full year guidance.

“The fact that third-quarter beat on stronger pickup pricing in North America is encouraging because General Motors is only partway through this launch, suggesting the benefit will continue and even grow; also, the fact that GM China turned in a record third-quarter is also encouraging because it shows that General Motors can earn solid profits in a variety of economic scenarios in that country,” JPMorgan said.