General Motors stock analysts have mixed takes ahead of Q1 earnings

General Motors is scheduled to report its first-quarter results before the opening bell on Tuesday, April 28, and analysts have mixed views on the U.S. auto leader.

Wall Street expects the company to report first-quarter revenue of $43.68 billion, a slight decline from last year’s $44 billion in revenue. The company is also expected to report earnings of $2.62 per share, slightly below last year’s $2.78 per share.

GM shares were down 0.9% to $77.30 at last check Monday afternoon, April 27.

Here’s what analysts are saying about the company heading into Tuesday’s print.

GM raised to buy from hold at Deutsche Bank

Analysts at Deutsche Bank have a mostly positive outlook on the company’s first quarter, but it won’t be without headwinds.

The firm upgraded GM to buy from hold while raising its price target to $90 from $83.

“Looking specifically at GM’s 1Q, we expect some deterioration in volume/mix relative to the prior year, though pricing should help to mitigate,” the Deutsche Bank note says.

Related: Ford maintains a big advantage over GM in one key area

While tariffs aren’t in the headlines in 2026 like they were last year, tariff expenses are expected to be the company’s biggest headwind, accounting for a negative $800 million hit in the quarter versus the company’s own expectations between $700 million and $1 billion.

Those expenses are predicted to offset the tailwinds the company expects in the quarter, including a $400 million improvement in EV losses, a $250 million improvement in warranty, and $200 million in emissions benefits.

Morgan Stanley picks General Motors as its top auto pick amid higher gas prices

If the Iran war persists, Morgan Stanley expects heightened volatility, and if that happens, it has picked General Motors, ol’ faithful, as its top sector pick, maintaining an overweight rating on the stock.

“GM remains one of the top ideas across autos, particularly with the recent sell-off,” according to Morgan Stanley. GM has “a strong execution track record of managing its business and delivering strong results through supply chain disruptions and volatile operating environments.”

According to Morgan Stanley, every $1-per-gallon increase in gas prices results in a $450-per-year increase in fuel costs for gas-powered vehicles, assuming 27 mpg and 12,000 miles driven per year.

UBS, Bank of America remain bullish on GM, but not Goldman Sachs

UBS is also bullish on GM’s stock heading into Tuesday’s call, raising its price target to $105 from $102 while maintaining a buy rating. The firm sees significant earnings and revenue-beat potential with results at the higher end of its guidance, TipRanks noted.

The firm doesn’t have major concerns about a second-half volume slowdown, given GM’s reasonable inventory levels now.

Analysts at Goldman Sachs aren’t so bullish, slashing their price target to $91 from $104 while maintaining a buy rating. The firm expects auto manufacturers and suppliers to deliver in-line results, or even softer results, across the board this quarter due to rising input costs and weak Q1 auto sales in China.

Meanwhile, analysts at Bank of America say, “We think GM is positioned for strong 1Q results as management commentary suggests ‘the most stable start to a year that we’ve seen in the last five years’ and that GM was generally on track with guidance and not seeing any concerns in current demand trends.”

The firm is also confident in the company’s inventory, since “GM inventory exited 1Q healthy, at the midpoint of GM’s 50-60 day target. Production of GM’s large truck/SUV platform exceeded expectations in the quarter, increasing 3.0% y/y (vs. Dec. forecast of +0.4%).”

GM imports more vehicles than even foreign competitors do

S&P Global has new data showing the significant domestic production gap between Ford and its competitors.

Of the 2.2 million new vehicles it sold in the U.S. last year, Ford imported 378,123 of them, the Detroit Free Press reported, citing S&P Global Data. Meanwhile, of the 2.85 million vehicles General Motors sold in the U.S. in 2025, 1.17 million were imported. Stellantis imported 514,000 of the 1.26 million vehicles it sold in the U.S. last year.

GM imported more vehicles than foreign competitors such as Hyundai and Honda, and GM and Stellantis both imported more vehicles than Volkswagen, Nissan, and BMW did last year.

Ford estimated a net tariff impact of $2 billion in 2025, about $1 billion higher than the company expected as recently as October. Meanwhile, GM says tariffs cost the company more than $3.1 billion last year.

Despite tariff headwinds, GM increased its U.S. market share above 17%, its most substantial presence in the U.S. since 2017, while other brands also saw sales rise.

Related: GM gets key update from Deutsche Bank ahead of earnings