E-commerce growth is back, and Morgan Stanley has several stock picks for investors to cash in, including a less obvious name.
Internet stocks are enjoying a good run this year — they've "way outperformed" the S & P 500 over the last three months, according to Rosenblatt Securities senior analyst Barton Crockett. Morgan Stanley's analysts, too, are bullish on the sector — but a more specific corner of internet stocks. "E-commerce growth is reaccelerating and back to gaining share of overall retail sales," the bank's analysts, led by Simeon Gutman, wrote in a note on March 19.
Morgan Stanley said the company is a "share taker" in a key underpenetrated e-commerce category: global luxury. The bank expects e-commerce's share of the global luxury market will grow to 32% in 2026 from 22% in 2021, which it said implies a $55 billion opportunity. On top of that, of all third-party e-commerce platforms in China — a key luxury market — Farfetch has the "strongest" partnership with brands, according to Morgan Stanley.
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