Morgan Stanley lists three 'standout names' it says have not only made improvements in sustainability, but also have an upside of 20% to 35%.
Embracing sustainability doesn't have to come at the expense of financial performance — Morgan Stanley named several European companies it says have managed to show just that. The "standout names" have produced "quantifiable financial impact" on top of making improvements in ESG , Morgan Stanley's analysts, led by Stephen Byrd, wrote in a note on Monday. These stocks are rated overweight and have average upside of around 20% to 35%, the bank added.
Swiss building materials manufacturer Holcim is another one of the bank's top picks. Morgan Stanley described the company as a "global leader" in cement decarbonization, and its "ambitious" medium-term decarbonization target puts it in a "league of its own." The bank noted the company's "strong delivery on cost savings" and sees scope for margin uplift in its non-cement business.
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