3 Auto Stocks Going Places: GM’s Strong Quarter, Honda Makes Gains, Tesla’s Charging Network
General Motors Co. (NYSE:GM): Earnings per share of 96 cents was enough to beat projections by 3 cents, though revenue of $39 billion missed by $0.5 billion. Margin improvement in North American during the third quarter helped GM beat profit estimates, as the automaker ended the quarter with adjusted automotive free cash flow of $1.3 billion. Further, Deutsche Bank believes that the margin expansion is sustainable; it reiterates a Buy rating and a price target of $46 on General Motors stock.
Honda Motor Co. (NYSE:HMC): Honda has reported EPS of 68 cents, beating the 46 cents that it brought in last year, with revenues of $29.56 billion against $29.49 billion from last year. The company is projecting that net income for fiscal year 2014 will rise 58 percent, as operating income should see a 43.2 percent bump.
Tesla Motors (NASDAQ:TSLA): Tesla has finished its charging network along the West Coast, allowing Tesla-equipped commuters to make it from Vancouver to San Diego for free. Further, CEO Elon Musk says that a similar corridor will soon be completed along the East Coast “in a few months.” When pushed by Twitter followers, Musk revealed that the East Coast Supercharger network would allow commuters to make it from Montreal to Miami.