Shares of General Motors (GM) are on the rise after Deutsche Bank analyst Rod Lache upgraded the stock to Buy as he believes its autonomous vehicles will be ready for commercial deployment much sooner that widely expected and possibly ahead of competitors.

BUY GENERAL MOTORS: In a research note to investors this morning, Deutsche Bank's Lache upgraded General Motors to Buy from Neutral and raised his price target on the shares to $51 from $36. The analyst argued that the company's autonomous vehicles will be ready for commercial deployment, without human drivers, much sooner than widely expected and possibly years ahead of competitors. Businesses built off of this platform will ramp much faster than is widely expected, which could perpetuate sustainable advantages, he argued, adding that he believes that this will be material, even to a company of General Motors' size. The analyst told investors that he estimates that 60% of U.S. households in dense urban centers could eventually find autonomous ride-share services more financially attractive than privately owned vehicles. Additionally, Lache pointed out that potential valuations of General Motors' burgeoning Mobility business is "too big to ignore," especially if the company sees the merits of spinning it off, which he believes they will. The analyst said he sees its Mobility business being worth $30B, or $20 per share.

WHAT'S NOTABLE: Deutsche Bank's Lache is not the only one getting more bullish on General Motors. Last week, his peer at Morgan Stanley raised his price target on the company's shares to $43 from $40 and his sum-of-the-parts valuation of General Motors to $56 from $50. Analyst Adam Jonas noted that he believes the company has an opportunity to unlock hidden strategic value, and moved the stock up to number three in his ranking of North American autos, making it his highest-ranked OEM. Last Wednesday, Citi analyst Itay Michaeli also made the case for "significant" long-term upside potential in shares of General Motors. The analyst told investors in a research note of his own that he believes General Motors' "highly overlooked" pickup truck fundamentals are just as integral to the investment case as "Car of the Future and RoboTaxis." If both themes play out, Michaeli argued that the stock's long-term upside case can well exceed his Street-high price target of $53. Further, the analyst continues to believe the company will emerge as one of the winners in the rapidly changing automaker space. Michaeli reiterated a Buy rating on the shares.

OTHERS TO WATCH: Other publicly traded automakers and technology companies prominently working on autonomous vehicles include Tesla (TSLA), Apple (AAPL), Alphabet (GOOG) Ford (F), Honda (HMC), Toyota (TM) and Volkswagen (VLKAY).

PRICE ACTION: In morning trading, shares of General Motors have gained about 2.5% to $40.40.