Morgan Stanley has identified several stocks that still have room to grow this summer, including companies like Dell Technologies, Hasbro, Nvidia, Progressive, Bath & Body Works, and Warner Music Group. Hasbro, in particular, is seen as a top pick by analyst Megan Alexander due to improving toy demand trends and strong first-quarter earnings. Progressive, an auto insurer, is also highlighted as a top pick with attractive valuations and potential for further growth in 2024 and 2025. Warner Music Group, on the other hand, is considered undervalued despite positive developments in the music industry. Additionally, Bath & Body Works is expected to return to top-line growth following normalization of its home fragrance business.
Dell Technologies is anticipated to see growth driven by factors such as the hardware cycle, capital returns, inclusion in the S&P 500, cost management, and the emerging Gen AI story. These companies are viewed as strong long-term investments by Morgan Stanley, with potential for continued upside based on their growth prospects in various sectors. Overall, these stocks present opportunities for investors looking to capitalize on potential market gains throughout the summer.
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https://www.cnbc.com/2024/05/25/tech-stocks-like-nvidia-are-heating-up.html