(Bloomberg) -- Morgan Stanley (NYSE:MS) includes Alphabet (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN) and Netflix (NASDAQ:NFLX) in an annual update of its "Secular Growth Stocks" list.
Compiled by the bank’s equity research department, the report highlights 25 stocks that are expected to grow strongly, independent of global economic conditions.
Morgan Stanley has also issued a report in conjunction with the growth list that identifies 25 "Secularly Challenged Stocks," all of which carry an underweight rating from the bank’s analysts.
The firm’s equity strategy team sees 2019 as a continuation of cyclical consolidation in the middle of a secular bull market. They expect next year to be "characterized by disappointing growth and a much narrower range of valuation," according to the note. "They see a major leadership change from Growth to Value occurring that could last longer than most appreciate.
25 Secular Growth Stocks
- Tech/Internet/Media: Adobe (NASDAQ:ADBE), Alphabet, Amazon, Atlassian, Booking (NASDAQ:BKNG), Expedia (NASDAQ:EXPE), Netflix, Palo Alto Networks, Pluralsight, Salesforce, ServiceNow, Veeva, Workday
- Health care: BioMarin, Illumina (NASDAQ:ILMN), Intuitive Surgical (NASDAQ:ISRG), Iqvia, National Vision, Regeneron, Vertex (NASDAQ:VRTX) Pharma, Zoetis
- Finance: Assurant (NYSE:AIZ), Mastercard (NYSE:MA), Visa (NYSE:V)
- Consumer: Ulta Beauty
25 Secularly Challenged Stocks
- Consumer: Abercrombie & Fitch, Bed Bath, JM Smucker, Kohl’s, Kraft Heinz (NASDAQ:KHC), Macy’s, United Natural Foods
- Tech/Internet/Media: Citrix Systems (NASDAQ:CTXS), Fitbit, Juniper Networks (NYSE:JNPR), MSG Networks
- Finance: Franklin Resources (NYSE:BEN), Waddell & Reed, Western Union
- Health care: Allscripts, Henry Schein (NASDAQ:HSIC), Patterson Companies (NASDAQ:PDCO)
- Transports/Autos: Avis, C.H. Robinson, Hertz, Tenneco, UPS
- Energy: EQT Corp (NYSE:EQT)., Seaspan, Southern (NYSE:SO) Co.
