On September 17, General Motors rose 3.11% in regular trading, trading at $87.145/share, with turnover of $35.32 million. The stock gained momentum following the announcement that the automaker has begun supplying missile components to defense giant Lockheed Martin.

Lockheed Martin confirmed that General Motors delivered its first batch of PAC-3 MSE interceptor missile casing components in August, just 22 days after the deal was finalized. The move is part of a Pentagon-driven initiative to enlist automotive manufacturers and their suppliers to help replenish U.S. ammunition stockpiles depleted by conflicts in Ukraine and the Middle East. Lockheed Martin did not disclose the order size or scope of future business.

The defense entry adds to a string of positive developments for the company. UBS recently raised its price target on General Motors to $114 from $102, maintaining a Buy rating, citing underappreciated digital revenue potential projected to grow from $3.2 billion to $9.6 billion by 2036 at an 11.5% CAGR. BNP Paribas also lifted its target to $112, maintaining an Outperform rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)