On July 28, General Motors rose 3.24% in regular trading, trading at $89.86 per share, with turnover of $303 million. The stock continued its upward momentum following a series of positive catalysts.

On the news front, Jefferies upgraded General Motors from Hold to Buy, raising its target price from $90 to $99, extending a wave of institutional upgrades. The catalyst also includes growing investor attention on the company's software and services segment: OnStar generated $800 million in quarterly revenue with a gross margin of approximately 70%, far exceeding the roughly 4 cents per dollar earned from traditional vehicle sales. The company expects OnStar subscribers to approach 13 million by year-end, while Super Cruise autonomous driving assistance at $39.99 per month is showing strong paid conversion rates after free trial periods.

Additionally, General Motors previously reported Q2 adjusted EPS of $3.57, beating expectations by approximately 11.6%, and raised its full-year earnings guidance for the second time to a range of $14 billion to $16 billion. Multiple institutions including JPMorgan, Morgan Stanley, and RBC have concurrently raised their target prices.

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