General Motors Co. is “serious” about capital discipline and is likely to “significantly” return cash to shareholders, analysts at Morgan Stanley said in a note Wednesday as they made GM stock their top pick among car-maker shares. They also raised their price target on the shares by 5% to $42 a share, which represents an 11% upside from Wednesday’s prices. The analysts raised their 2017 per-share earnings forecast to $6.32, from $6.09. The company estimates EPS between $6 and $6.50 for the year. Shares of GM have gained nearly 30% in the last 12 months, which compares with gains of 22% for the S&P 500 index in the same period.
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