Best Buy's push into health care could generate up to $46 billion in revenue, says Morgan Stanley

A customer gets help from an employee at a Best Buy store in San Francisco.
David Paul Morris | Bloomberg | Getty Images

Best Buy's "underrated" step into health care could dramatically grow the company's revenue and stock value, according to Morgan Stanley.

The firm estimates Best Buy's push into the healthcare market could unlock $11 billion to $46 billion in potential revenues for the company, long-term.

"Best Buy is at the edge of a significant, untapped white space opportunity in healthcare," Morgan Stanley's equity analyst Simeon Gutman said in a note to clients Monday.

More In Pro News and Analysis

CNBC ProSingapore's largest lender picks 5 stocks that play off Evergrande's debt crisis
CNBC ProHedge fund managers love these stocks, and they are trouncing the market
CNBC ProSantoli’s Thursday market notes: Market speculation calms down as Robinhood debuts on the Nasdaq