New York, August 3 (FinanceEnquiry.com) – Analyst Efraim Levy at S&P CAPITAL IQ keeps BUY ratings on the shares of General Motors (NYSE: GM).
In a research note published yesterday, the analyst states that the Q2 EPS of $0.90 against $1.54, has been lower than the bank’s estimate of $0.93. However, GM has exceeded the Capital IQ consensus EPS estimate of $0.79. The lower than expected revenues have been mainly currency related.
The quarterly results benefited from spending deferred to the third quarter. As the pattern of the automotive industry continues to be the same, strength has been shown by North America as some international regions whereas Europe and South America weakened. Slowing growth has been considered to be a risk, though US supported by pent up demand, the analyst says.
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