These 'quality' global stocks look cheap, says Morgan Stanley

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Analysts at Morgan Stanley have picked stocks that they believe are currently "cheap" and represent "quality at a reasonable price."

In a research note titled "Any Cheap Cyclicals Left?" and focused on the travel and leisure sector, the bank said Monday that many stocks have the economic recovery priced into their valuations. Cyclical stocks are those whose performance tends to be in line with the economy.

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