So far this earnings season, the market has not been impressed by relatively strong earnings from the auto industry, and neither has Goldman Sachs. There have been 16 consensus beats in the auto space so far compared to only four misses, but auto stocks have only gained an average of 0.3 percent on reporting day.
Goldman analyst Patrick Archambault sees several reasons for the tepid market reaction.
“We believe this was due to more conservative management tones that outlined a number of risk factors surrounding global production amid a plateauing US backdrop, a level ...
/www.benzinga.com/analyst-ratings/analyst-color/16/05/7972256/despite-strong-earnings-goldman-remains-cautious-on-auto alt=Despite Strong Earnings, Goldman Remains Cautious On Auto Suppliers>Full story available on Benzinga.com
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