A Barclays Capital (NYSE:BCS) analyst has cut his 2011 earnings estimates and 12-month stock price target for General Motors Co. (NYSE:GM), due mainly to expected increases in seasonal and recurring costs in North America, GM's biggest profit center.
GM's stock slid nearly 5 percent Thursday to $33.02, despite the company's solid earnings report. GM announced Thursday a $510 million net profit in the fourth quarter and a $4.7 billion profit for all of 2010, an impressive turnaround considering the company was in bankruptcy protection for part of 2009.
Barclay's analyst Brian Johnson wrote that the company remains attractive despite a near-term stall in the stock price.
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