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Morgan Stanley slashes price target on General Motors stock

Yahoo Finance Video

Yahoo Finance Live's Akiko Fujita discusses stock performance for General Motors after Morgan Stanley slashes its price target.

Video transcript

AKIKO FUJITA: Well, shares of General Motors are falling after a bearish call from Morgan Stanley. Analyst Adam Jonas lowering his price target on the stock from $42 a share to $30, citing a weak outlook for the car maker's China business, although he did maintain an equal weight rating on the stock. The company posted 24% growth in vehicle sales during the third quarter. That was compared to the same period a year ago. The stock is down roughly 45% year to date.