RBC believes GM could be the best auto stock in 2020
General Motors Company (NYSE:GM) this morning received a bull note out of RBC that said the automaker could outperform its global peers in 2020 because it doesn't have exposure to Europe, and its new pick-up trucks have now been out for a full year in North America. The brokerage firm added that the company's free cash flow could approach $8 billion.
GM shares are moving modestly higher as a result, last seen at $37.35, though the security remains in a series of lower highs that have been in place since August. Most other analysts are already bullish on the automaker, with 10 of 13 recommending to buy the shares.
Call buying has remained popular at the major exchanges, based on the 10-day call/put volume ratio of 2.59 from the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Similarly, the Schaeffer's put/call open interest ratio (SOIR) is 0.67, showing calls easily outweigh puts among contracts set to expire within three months.