Analyst Adam Jonas of Morgan Stanley upped his price target on General Motors Co. GM, +1.47% shares to $57, representing an upside around 33% over Thursday prices, saying that the car maker’s OnStar and connected fleet business could unlock more revenue in 2021. GM appears to have big plans for the business, Jonas said in a note Thursday.
Just as Tesla Inc. TSLA, +5.32% monetizes its autonomous-vehicle business, so will GM increase that, he said. Shares of GM have gained 14% this year, compared with gains of 15% for the S&P 500 index. SPX, +0.58%