摩根士丹利：2027年的30只长期持有的优质股票

Investment Rating - The report maintains a focus on high-quality stocks as the preferred investment choice amid elevated uncertainty, indicating a positive investment outlook for quality stocks [2][3]. Core Insights - The report emphasizes that quality stocks are expected to outperform in the long run, particularly in the context of ongoing policy uncertainty and declining earnings revisions [2][3]. - A selection of 30 companies, termed "30 for 2027," has been identified as the best long-term investment picks, focusing on those likely to enhance their sustainable competitive advantages [3][4]. - The criteria for selection include sustainability of competitive advantage, business model robustness, pricing power, cost efficiency, and growth potential, with a strong emphasis on Return on Net Operating Assets (RNOA) and management strategies [4][5]. Summary by Sections Selected Companies - The report lists 30 companies that are well-positioned for long-term growth, including Amazon, Apple, Microsoft, and Visa, among others [6]. Financial Metrics - The report provides detailed financial metrics for the selected companies, including projected revenue and EPS growth rates, EBIT margins, and net debt to EBITDA ratios, indicating strong financial health and growth potential [17][20]. Valuation Metrics - Valuation metrics such as P/E ratios, EV/EBIT, and free cash flow yields are presented, with price targets and risk-reward assessments for each company, suggesting significant upside potential for investors [20][28].