This story has been updated from April 15 with the additional 22 stocks on Morgan Stanley's list.
Which stocks are best to own for the long term?
Morgan Stanley's "30 for 2019" list encompasses 30 quality stocks for investors to own for at least three years, the investment firm said in a research note to clients on Thursday.
As investors wade through "numerous cross-currents" currently affecting the markets, such as slow U.S. economic growth, weakness in key overseas economies, low oil prices and negative policy rates from a growing number of central banks, individual equity opportunities are present, Morgan Stanley said.
The firm asked its U.S. analysts to identify the "highest-quality" companies in each sector that are "likely to strengthen their sustainable competitive advantage."
"We have tried to identify the best franchises, not the most undervalued stocks," Morgan Stanley said. "Our driving principle was to create a list of companies whose business models and market positions would be increasingly differentiated by 2019."
The firm asked its analysts to focus on the ability of a company to sustain its competitive advantage, business model, pricing power, cost efficiency and growth, the note said, among other criteria. Stocks were not required to be rated overweight (Morgan Stanley's equivalent to a buy rating), nor were assumptions about the economic cycle or valuation considerations required.
Here is the full group of stocks from the "30 for 2019" list. We've paired the list with commentary from Jim Cramer if the stock is owned by his Action Alerts PLUS charitable trust portfolio.