By David Berman, Globe & Mail - Morgan Stanley is hot for General Motors Co. In a research note on Wednesday, analyst Adam Jones declared the automaker as his new top pick, with a lofty target price of $50 US implying an upside of more than 60 per cent from the stock's closing price on Tuesday.The move is somewhat contrarian, given that North American auto stocks have stalled this year. As the analyst pointed out, talk among investors at the start of the year was about the v-shaped U.S. economic recovery and 15 per cent to 20 per cent growth in the Chinese car market. Now, investors are talking about high gas prices, Japanese price wars, fears of a double-dip recession and flat growth in China.
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