Two major automakers have caught the eye of UBS as a new analyst takes over coverage of the sector.
Analyst Joseph Spak starts his coverage of Ford and General Motors with buy ratings.
Before he became the analyst covering the industry, UBS had a sell rating on Ford and neutral rating on GM.
Despite adding 1.1% in Wednesday premarket trading, GM is down 0.5% year to date.
F GM YTD mountain Ford and GM in 2023 — CNBC's Michael Bloom contributed to this report
Persons:
Joseph Spak, Spak, —, Michael Bloom
Organizations:
UBS, Ford, General Motors, GM
Locations:
overdone