Morgan Stanley Upgrades GM on Pick-Up Truck Business

Investing.com - Morgan Stanley (NYSE:MS) raised its rating and stock price target on General Motors (NYSE:GM), citing a host of reasons, including its strong pick-up truck business.The firm raised its rating from equal-weight to over weight and 12-month, stock-price target from $45 to $48 a share.The firm says the potential impact of a surprise infrastructure spending bill, which the firm estimates at $2.4 trillion over 10 years, is "significant." Morgan Stanley estimates pick-ups will account for 65% of GM's profits in 2018. The firm also cited GM's electric and driverless vehicle businesses.Citi recently raised its price target from $60 to $70, citing the automaker's "game-changing leadership" in autonomous vehicles.GM shares are up about 12% in the past 12 months.