Morgan Stanley's research team updated its favorite long-term growth ideas list, a portfolio which aims to find companies that will be able thrive even in any type of macroeconomic environment.
"We highlight 82 stocks that we believe can grow strongly even if the global economy grows more slowly than our current GDP forecasts," the research team wrote in a report to clients Tuesday.
"We believe these companies all have exposure to longer-term growth drivers, such as a sustainable competitive advantage, a multiyear 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, it 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.