5 S&P 500 Stocks With The Most Upside

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1. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 75

Share Price as of October 24: $35

General Motors Company (NYSE:GM) is an automobile manufacturer that designs trucks, crossovers, cars, and automobile parts and accessories. The company operates in North America, the Asia Pacific, the Middle East, Africa, South America, the US, and China.

A Buy rating was reiterated on shares of General Motors Company (NYSE:GM) on September 28 by Itay Michaeli at Citigroup. The analyst also placed a $78 price target on the stock.

This October, General Motors Company (NYSE:GM) reported a 24% increase its in US sales, year-over-year. The company benefitted from pent-up customer demand and higher availability of semiconductor supplies.

Our hedge fund data shows 75 hedge funds long General Motors Company (NYSE:GM) in the second quarter. Their total stake value was $3.4 billion.

Diamond Hill Capital, an investment advisor, mentioned General Motors Company (NYSE:GM) in its second-quarter 2022 investor letter. Here’s what the firm said:

“Auto manufacturer General Motors Company (NYSE:GM)s was also among our bottom contributors in Q2. Rising interest rates and continued supply chain issues have increased uncertainty surrounding the auto industry, exerting downward pressure on stocks of auto makers. We continue to like GM’s focus on its most profitable market segments (SUV, crossovers, trucks) and believe the company’s heavy investments in autonomous capabilities will position it favorably as the secular movement towards autonomous vehicles continues.”

See also 11 Best High Beta Stocks To Buy Now and 11 Best Fast Food Stocks To Invest In.

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