Why This GM, Ford Analyst Is Bullish On The Motor City Automakers

Wells Fargo initiated General Motors Company (NYSE: GM) and Ford Motor Company (NYSE: F) with Buy ratings on Monday. Here's what the analyst behind the sell-side moves had to say. 

The GM, Ford Analyst: General Motors is becoming a leader in autonomous, connected and electric mobility, Wells Fargo's Colin Langan told CNBC.

Wells Fargo assigned a $67 price target for General Motors and $15 for Ford. 

"They have been a pretty strong leader. They will have the Hummer, which I think is going to be one of the more exciting EV launches," the analyst said. 

Hummer and Cadillac are set to include the new General Motors battery technology, he said. 

Ford's restructuring is accelerating, Langan said.

"Their turnaround has taken an awfully long time. I think they finally got the right leadership in place to kind of get that off the ground," the analyst said.

The Mustang Mach-E is adding to Dearborn's EV credibility, he said.

"Their EV story is pretty good. The Ford Mustang Mach-E has gotten really great reviews. It's a great car and it's really something that is very desirable."

F, GM Price Action: Ford shares gained 4.4% Monday, closing at $12.70. GM was up 5.55% at $61.04.

The Ford Mustang Mach-E.