Morgan Stanley upgraded General Motors to Equal Weight from Underweight and has a $28 price target on shares. The firm's analyst said General Motors' efforts to return cash to shareholders through buybacks and dividends has resulted in flat share price performance year-to-date. Firm believes GM may consider more radical changes, one being a mega-deal with a large automaker with cost savings in excess of $1B annually that could push shares to $90 in a bull case scenario. Morgan Stanley believes General Motors response to industry trends collaborations could result in increased dialogue with investors over the next few quarters.