What's Behind The Uptick In General Motors Stock?

General Motors Co (NYSE:GM) shares are trading higher on Wednesday. Wolfe Research upgraded the stock to Outperform. Here’s what you may want to know. General Motors stock is trading near recent highs. Where is GM stock headed? Wolfe Research Turns Bullish On GM Wolfe Research analyst Emmanuel Rosner raised his rating on General Motors to Outperform from Peer Perform and set a $96 price target — about 25% above where the stock closed on Tuesday, CNBC reported. Rosner said he believes GM is positioned to benefit from a series of product and cost tailwinds that the market hasn't fully priced in, even as geopolitical uncertainty continues to weigh on the broader auto sector. Rosner said one of the biggest drivers will be GM's refreshed lineup of full‑size pickup trucks, which he estimates could add roughly $1.7 billion to the company's bottom line. Wolfe also pointed to GM's shifting production footprint. As the automaker moves more manufacturing from Mexico to the United States, the firm expects GM's net tariff exposure to decline. GM announced last year that it would invest about $4 billion into U.S. plants to support that transition. Another factor supporting the bullish call: GM's aggressive share‑buyback program. Wolfe estimates that ongoing repurchases alone could lift the stock by nearly 15%. The firm projects General Motors will generate $9.9 billion in free cash flow in 2026 and $12.2 billion in 2027. The Technical Analysis Of General Motors General Motors is trading 1.7% above its 20-day SMA, but 0.8% below its 100-day SMA, showing short-term stabilization while the intermediate trend is still being repaired. Shares are up 46.62% over the past 12 months and are currently positioned closer to their 52-week highs than lows. The RSI is at 49.43, which sits in neutral territory and suggests momentum isn't stretched in either direction. Meanwhile, MACD is at -1.5631 versus a signal line at -1.8536, a bullish configuration that points to improving upside momentum even though the indicator remains below zero. RSI in the 30-50 range with bullish MACD indicates momentum leaning bullish. Key Resistance: $84.00 Key Support: $72.00 Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $92.60. Recent analyst moves include: Wolfe Research: Upgraded to Outperform (Target $96.00) (Mar. 25) Benchmark: Buy (Raises Target to $90.00) (Feb. 10) Jefferies: Hold (Raises Target to $97.00) (Feb. 2) Benzinga Edge Rankings: The Benzinga Edge scorecard for General Motors highlights its strengths and weaknesses compared to the broader market. Momentum: Bullish (Score: 82.64) — The stock is showing strong relative strength versus the broader market over recent periods. Quality: Neutral (Score: 45.19) — Fundamentals screen as middle-of-the-pack, suggesting neither a clear quality premium nor a major red flag. Value: Bullish (Score: 72.92) — The valuation profile screens attractively versus many peers, which can support pullback buying. Growth: Neutral (Score: 40.77) — Growth characteristics are moderate, so the story leans more on execution and cycle dynamics than pure expansion. The Verdict: General Motors’s Benzinga Edge signal reveals a momentum-driven setup with supportive value characteristics. If the stock can defend the $72.00 area and push back toward $84.00, the scorecard suggests buyers may keep treating pullbacks as opportunities rather than trend breaks. GM Price Action: General Motors shares were up 0.59% at $77.02 at the time of publication on Wednesday, according to Benzinga Pro. Image: Shutterstock