A worker on the assembly line at the General Motors Assembly Plant in Arlington, Texas
Mike Stone | Reuters
Bank of America Merrill Lynch lowered its rating for General Motors to neutral from buy, saying investor worries over a potential auto industry downturn will limit share upside.
"Although we continue to believe that GM's earnings and cash flow will...improve in 2016e-2018e, we believe that sentiment is likely to keep a lid on the stock as the peak of the US auto cycle approaches," analyst John Murphy wrote in a note to clients Wednesday.
General Motors reported better-than-expected third-quarter financial results Tuesday.
