General Motors' (GM) - Get Report stock could ride the rally higher driven by the self-driving car dominant "Auto 2.0" market, Morgan Stanley analyst Adam Jonas wrote on Wednesday.

By better positioning itself in the self-driving market, Jonas concludes that GM could carry the potential for a market cap valuation of $60.36 billion, about 16% higher than its current valuation.

GM must commit to several changes if it wishes to achieve said success, including a willingness to cash in the value of old assets, Jonas added. 

He also contends that GM can unleash value by focusing on improving its technology research.

GM vehicles travel roughly 2.5 billion miles a day, according to Jonas. That's significantly higher when compared to Uber's 100 million miles and Tesla's (TSLA) - Get Report 5 million miles.

Jonas argues that GM can harnesses that data for its own benefit or sell for a profit.

Shares of General Motors closed higher 1.08% to $34.58 on Wednesday. 

What's Hot On TheStreet

The stock market may be overvalued: Now may be the time to pay extra attention to red-hot tech stocks such as Apple (AAPL) - Get Report and Facebook (FB) - Get Report. As TheStreet first reported Tuesday afternoon, asset valuations are somewhat "rich" by standard metrics, Federal Reserve Chair Janet Yellen said in London during a conversation about economic issues with British Academy President Lord Nicholas Stern. Yellen's comments on equity valuation and bank strength closely mirrored Fed Vice Chairman Stanley Fischer's from an IMF event held earlier in the day.

The iPhone has changed how you make money: TheStreet's Scott Gamm is out with a piece that will really get you thinking. Apple's iPhone will turn 10 years old on Thursday. The device not only turned Apple into one of the world's most valuable companies, helping to boost its stock price more than 700%, it also changed the way we invest and trade stocks Gamm points out.

In fact, the original iPhone -- and the current versions -- have an internal stocks app, allowing users to check the broader market indexes and individual stock prices. Having this in your pocket was a big deal 10 years ago.

"I think it's actually made the life for a typical investor much easier," Angelo Zino, an analyst with CFRA Research, told TheStreet. "I think they've been able to tap news flows much quicker."

Apple, Walgreens Boots Alliance and Facebook are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL, WBA and FB? Learn more now.

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