Analyst Says GM Sell-Off Overdone; Sees Strong FY15 EPS Growth

General Motors Co. GM shares are down about 10 percent since it released second-quarter earnings and announced a $1.5 billion recall charge. But Sterne Agee's Michael Ward maintains a Buy rating and $50 target and said Tuesday the recent sell-off makes the shares especially attractive. With the "mess" from the recall charge settled, Ward thinks its time for investors to focus on operations and expectations for 2015. Ward has said he expects 2015 earnings of $5 a share. If so, that would equal earnings growth of more than 83 percent from the consensus $2.73 expected for 2014. Moving into the seasonally strong year end with product and earnings momentum and the benefits of a European restructuring support a positive outlook on the shares, Ward said in a note. An investor conference slated by GM for October might prove a catalyst, according to Ward. GM traded recently at $33.80, nearly unchanged.