DETROIT (Bloomberg) — General Motors Corp. shares were raised to "outperform" by Bear Stearns analyst Peter Nesvold, in part because of the sale of DaimlerChrysler AG's Chrysler.The sale of the US-based Chrysler unit to Cerberus Capital Management LP "opens the door for further restructuring in Detroit," the New York-based analyst said in a note to investors yesterday. That will benefit GM, the largest US automaker, he said in raising his rating from "peer perform".

GM, Ford Motor Co. and Chrysler, the three US-based automakers, all are cutting jobs and closing factories after losing sales in their home market to Asia-based competitors led by Toyota Motor Corp. The reduced sales contributed to losses last year at the three US automakers.

The Chrysler sale and reports by Bloomberg and the Detroit News that the Ford family is considering selling part of its controlling stake in Ford Motor are signs that the US automakers will step up restructuring, Nesvold said.