GM shares rose on Tuesday, with HSBC raising its price target from $41.3 to $48, while maintaining its Buy rating on the stock, following the release of the automotive group's 4th-quarter results.

At 11:10 a.m. (New York time), the stock was up by just under 1%, while the S&P 500 index was down 0.1% at the same time.

We continue to see the stock at a significant discount, despite the implementation of own initiatives to maintain earnings at record levels, and the prospect of significant share buy-backs", underlines HSBC in a note.

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