1 "High Conviction" AI Stock That Morgan Stanley Analysts Love
This month, Morgan Stanley strategist Edward Stanley revealed the investment firm's top high-conviction stock picks that will directly benefit from the rise of artificial intelligence (AI). While Stanley admitted that we are still in the "experimental" phase of AI, "the margin expansion in these names should be meaningful over the second half of 2024 and into 2025."
There were some familiar names on Morgan Stanley's list, including CrowdStrike, Meta Platforms, Tesla, and Snowflake. One of the firm's top picks, however, might surprise you.
If you're familiar with (NYSE: SHOP), you likely think of it as a tool for building websites. More specifically, the company specializes in helping people and businesses launch e-commerce websites. Previously, those wishing to build a digital storefront needed to do a lot of the heavy lifting themselves. With Shopify, anyone can start selling online within minutes, with design, inventory management, payment processing, and advertising tools already integrated and available with a few clicks.
Source Fool.com
Shopify Inc Stock
Currently there is a rather positive sentiment for Shopify Inc with 5 Buy predictions and 0 Sell predictions.
As a result the target price of 75 € shows a positive potential of 35.6% compared to the current price of 55.31 € for Shopify Inc.
