Morgan Stanley's research team compiled a list of its favorite long-term growth ideas that will be able thrive even in a more difficult economic environment.
"In this refresh of our annual 'Secular Growth Stocks' report, we highlight 30 stocks that we believe can grow strongly even if the global economy grows more slowly than our current GDP forecasts," the firm's research team wrote in a note to clients Thursday.
"We believe these companies all have exposure to longer-term growth drivers, such as a sustainable competitive advantage, a multi-year product cycle, market share gains, or pricing power."
The team screened Morgan Stanley's coverage universe for stocks with positive revenue growth for each of the past 12 quarters and projected annual earnings growth of at least 15 percent for the next three years. Additionally, they made a qualitative assessment on each company's future fundamentals and potential "secular growth runway."
Here are five companies that made Morgan Stanley's "secular growth stocks" recommended list.