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Morgan Stanley is sounding the alarm on a handful of stocks that the firm expects to have a long road to recovery.
The coronavirus crisis has wreaked havoc across financial markets, and some stocks face more challenges than others. From retailers to restaurant companies to technology stocks, Covid-19 has changed the market landscape and certain businesses will struggle in the years ahead.
Morgan Stanley created a list for clients of stocks that the firm's analysts believe have long-term secular challenges, and where the risk-reward looks unattractive on a 12 to 18 month horizon.
The list "features companies whose fundamentals we expect to be pressured by multi-year secular drivers that can reshape or disrupt economies, sectors and business models," Morgan Stanley said in a note to clients.
The firm chose stocks with a poor risk-reward, "particularly where downside to out analyst's bear case was greater than upside to the bull case," the note said.
Morgan Stanley has a sell rating on all the list stocks. Take a look here.