JP Morgan: General Motors 'One Step Closer to Cycling Past Recall-Related Woes'

Shares of General Motors GM are up 1.07 percent to $35 during Tuesday's trading, after J.P. Mogan offered some bullish comments on the car maker. Analyst Ryan Brinkman believes the company is “one step closer to cycling past recall-related woes,” which have plagued the stock the past week. Management's step on Monday to preemptively recall three additional vehicles “is only part of a broader effort to enhance the company's focus on safety reviews,” said Brinkman. Brinkman lowered his first quarter earnings per share estimate from $0.51 to $0.40, after GM added $300 million to its warranty reserve to cover recent recalls.