3 Auto Stocks Going Places: GM’s Hopes For Cadillac, Tesla Gets a Bump From a Former Bear, and Honda’s Unusual Pikes Racer
General Motors (NYSE:GM): Cadillac’s new pipeline could drive the brand to 30 percent sales growth, at least according to Bob Ferguson, vice president of global Cadillac. That includes the 2014 CTS that goes on sale this fall, and the plug-in 2014 ELR coupe. The corporation is “very committed to expanding the Cadillac product portfolio,” Ferguson said. “If you look at what our competitors offer, whether it’s Mercedes, BMW or Lexus, Audi, Acura, they have a broader product portfolio than we do currently,” he added. “So we want to win the in the marketplace and that will mean expanding our vehicle lineup.”
Tesla Motors (NASDAQ:TSLA): R.W. Baird has raised its price target on Tesla to $118, as the firm turns its attention to the upcoming Model X and Gen III model that the company has been hinting at. Baird also points out that the price target only factors in moderate share price appreciation over the next few years.
Honda Motor Co. (NYSE:HMC): Honda will be putting 11 cars on the grid for this years’ Pikes Peak International Hill Climb. Among the juiced-up racers and purpose bit cars, one of Honda’s submissions looks glaringly out of place — which it should, because Honda is racing a 532 horsepower, twin-turbo version of its Odyssey minivan. Although it looks fairly stock from the outside, the kiddie-carrier now sports the aforementioned estimated 532 horsepower and 460 pound-feet of torque, as well as racing suspension, tires and brakes.
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