Morgan Stanley names 15 stocks that can weather a bear market
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Morgan Stanley says clients are asking what stocks to buy in the current market environment and also in case of a full market reset.
"While we continue to prefer defensives for their relative outperformance on further downside, we ran a (growth at a reasonable price) screen to look for high quality companies that can potentially weather this bear market on a relative basis and could still see upside after the bear market," equity strategist Mike Wilson and team wrote in a note Monday.
"Our list results in 15 high quality names that have a clear defensive skew. Looking at the market betas, all 15 stocks have at or below market beta and should see relative outperformance in the current bear market," Wilson said.
The team screened for the following factors:

Rated as High Quality
Positive free cash flow, excludes Financials (XLF) and Real Estate (XLRE)
Free cash flow yield at 2019 pre-COVID levels or higher
Overweight rating

The stocks by sector are:
Communication Services (XLC)

AT&T (NYSE:T), price target $22, beta 0.55
Comcast (CMCSA), $55, 0.79

Consumer Staples (XLP)

Coca-Cola (KO), $76, 0.75
PepsiCo (PEP), $198, 0.67
Procter & Gamble (PG), $177, 0.68

Energy (XLE)
Exxon Mobil (XOM), $103, 0.8
Healthcare (XLV)

Becton Dickinson (BDX), $282, 0.58
Abbott Labs (ABT), $151, 0.75
CVS Health (CVS), $127, 1.04
Anthem (ANTM), $607, 0.97

 Industrials (XLI)

Johnson Controls (JCI), $71, 1.03
Deere (DE), $452, 1.02

Info Tech (XLK)
Mastercard (MA), $452, 1.08
Materials (XLB)

LyondellBasell (LYB), $127, 1.02
Linde (LIN), $365, 1.09

See Citi's screen for stocks to buy in the pullback.