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Garrett Motion Soars on Analyst Upgrade
31 Jul
Summary
- Deutsche Bank upgraded Garrett Motion stock to Buy.
- The company's strong second-quarter results exceeded expectations.
- Garrett Motion revised its full-year 2026 outlook upward.
Shares of turbocharger technology firm Garrett Motion experienced a notable increase of 6.6% in afternoon trading. This surge was directly linked to an upgrade by Deutsche Bank, which elevated its rating on the company to 'Buy' from 'Hold' and set a new price target of $36 per share.
The positive market reaction was fueled by Garrett Motion's strong second-quarter financial performance, which exceeded consensus estimates. Following these impressive results, the company has revised its full-year 2026 outlook upward, reflecting increased confidence in its future earnings potential.
Garrett Motion's stock has shown considerable volatility over the past year, with numerous significant price swings. Despite trading 16.1% below its 52-week high of $36.23 from June 2026, the stock has appreciated by 74.9% year-to-date. An investment of $1,000 made five years ago would be worth approximately $4,706 today.
