Morgan Stanley Maintains Overweight on General Motors (GM)

Morgan Stanley is out with its report today on General Motors GM, maintaining Overweight. In a note to clients, Morgan Stanley writes, "We believe the sentiment around GM is currently negative, bordering on acrimonious. Stronger pricing, even accompanied by lower US market share will go a long way to rebuilding confidence in the story. $7 of EPS by 2012 roughly $9bn of free cash flow generation for each of the next 2 years supports our $50 target, making GM one of our top picks in US autos." At the time of posting, shares of GM were trading pre-market at $32.25, up 1.26% from Friday's close.