10 Best Manufacturing Stocks To Buy According to Analysts

6. General Motors Company (NYSE:GM)

Number of Hedge Fund Investors in Q1 2024: 78

Average Analyst Share Price Upside: 20%

Average Analyst Share Price Target: $55.64

General Motors Company (NYSE:GM) is one of the biggest automotive manufacturers in America. This provides it with a set of advantages and disadvantages that it has to balance out in today’s changed industry. General Motors Company (NYSE:GM)’s advantages come in the form of a dominant position in the traditional car industry which provides it with hefty revenue and cash which it can reinvest in risky EV manufacturing. It also provides General Motors Company (NYSE:GM) with a fortress balance sheet through its $18.8 billion in cash. At the same time, it also means that the firm has to pivot to an emerging technology which requires General Motors Company (NYSE:GM) to rethink its business model while competitors like Tesla enjoy the agility that comes with being an upstart in a new industry. Therefore, the stock hinges on how well General Motors Company (NYSE:GM) can scale up its EV production, and whether it can match competitors in high tech areas like self driving. On this front, General Motors Company (NYSE:GM) second quarter wasn’t great as it took a $600 million hit on its Cruise platform, delayed an EV plant in Detroit and a battery powered vehicle, and posted a $104 million loss in China.