Analyst Brian Johnson of Barclay’s downgraded GM to underweight from equal weight. Deutsche Bank alcut GM to sell from hold, and saw an equity value of $0 for the stock, according to a report on theflyonthewall.com. “While further government assistance would decrease the likelihood of a GM bankruptcy, we believe any government assistance would likely significantly dilute GM’s equity,” Barclays’ Johnson wrote in a note to clients. Johnson cut his price target on the stock to $1 from $4.
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February 20th, 2009 at 5:05 am
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