Analysts at Morgan Stanley recently unveiled a slew of must-own stocks for 2024. These names have substantial upside and are great buys now, according to the firm. CNBC Pro combed through recent research to find Morgan Stanley’s best ideas for the new year. They include Spotify, T-Mobile, Howmet Aerospace , BlackRock and UnitedHealth. T-Mobile Morgan Stanley is betting on wireless growth this year. The firm said it sees a slew of positive catalysts ahead for T-Mobile with the cellular giant poised to take market share. Analyst Simon Flannery likes the company’s robust capital return program and its “network and value offerings.” “The ongoing capital return program implies about $12bn in stock repurchases for 2024, with a new larger program likely late next year.” he added. T-Mobile is also still enjoying the fruits of its 2020 merger with Sprint , according to the firm. “Margins have been supported by ongoing productivity initiatives and, in the case of T-Mobile, merger synergies, with AI providing an additional opportunity going forward,” he wrote. This is all the more reason to buy the stock now, the analyst said. “Our top pick is T-Mobile,” Flannery said. Shares are up 13% over the past year. Howmet Aerospace Howmet is the firm’s top pick in aerospace for 2024, according to analyst Kristine Liwag. Morgan Stanley said in a recent note that the company has a wide appeal for investors. In particular, Howmet has exposure to original equipment manufacturing, in addition to the aftermarket. “We continue to see Howmet as best positioned for the commercial aerospace upcycle from the increases in new aircraft builds and spares,” she wrote. Liwag likes the company’s “underlevered” balance sheet and “room for multiple expansion.” This makes Howmet “well positioned for capital return in 2024 and beyond,” she added. Pricing power also remains front and center, she wrote, as the demand for aircraft parts intensifies. Meanwhile, the stock is up nearly 37% over the past 12…
2024-01-06 06:30:00
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