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Through the first eight months of the year, General Motors Company (GM) was up a reasonable 4.8%. Not bad, but certainly lagging the 10.7% rally the S&P 500 ETF (SPY)  generated from January through August.

In September, though, GM stock has really put the pedal to the metal. Whereas the SPY ETF has climbed just 1% over the past month, General Motors has raced higher by nearly 10%. Despite this, the stock still yields close to 4%, paying out a 3.86% dividend yield.

So where to from here? Over the last few years, it's been easy to hate the automakers. Both General Motors and Ford Motor Company (F) have been relatively stagnant. For instance, GM stock is up just 8.3% over the previous four years. But going forward, that may all change.

According to Deutsche Bank's Rod Lache, investors can be optimistic on GM stock. He upgraded General Motors to a buy and moved his price target to $51 from $36 -- a near 42% boost. Lache argues that GM will have driverless cars ready much sooner than most think and could possibly be "years ahead" of competitors. That's assuming Lache is including Tesla Inc (TSLA) in that competitors group, a position many may not agree with.

One concern may be Millennials and city dwellers not needing or wanting to buy a personal vehicle. However, Lache argues that a fleet of driverless cars being used on a ride-sharing platform could be a major catalyst for GM. Remember that GM has invested in ride-hailing company Lyft and owns the ride-sharing platform Maven as well.

Additionally, Lache argues that GM's Mobility business is quickly gaining value, suggesting it could be worth more than $30 billion (or $20 per share).

Lache's report comes just a few days after Morgan Stanley analyst Adam Jonas boosted his price target on GM to $43, but said General Motors could be worth $56 on a sum-of-the-parts valuation.

Lache's price target suggests about 27.5% upside from current prices. GM is nearing its highest prices since December 2013.

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This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.