GM shares rise 10% on raised rating

Yesterday the price of GM stock was up $1.05 or 4.46 percent on news that Deutsche Bank analyst Rod Lache had raised his rating on the stock up to "hold" from "sell". Why the change of heart? Monday's announcement that GM had broke a five-quarter losing streak with a Q1 2006 earning of $445 million was responsible. The sudden gush of black ink in the books was a result of GM's health-care settlement with Delphi, reportedly worth $681 million, being excluded from the company's balance sheet.
Analysts aren't yet bullish on GM, however, with some still giving the automaker a 30-percent change of bankruptcy.

[Source: Reuters]