Top Stock Picks in Technology, Media, and Telecom: Dell, DoorDash, and Mastercard Recommended by MS

Top Stock Picks in Technology, Media, and Telecom: Dell, DoorDash, and Mastercard Recommended by MS

Metamorworks Morgan Stanley analysts recently presented their seven top stock picks at the annual Technology, Media, and Telecom (TMT) Conference. The highlighted stocks include Dell Technologies, DoorDash, Mastercard, NICE, Salesforce, Spotify, and Western Digital. All of these stocks are overweight-rated by the analysts.

Dell Technologies Inc. (DELL) has a price target of $120.5, representing a 6% increase from MS’ price target. The company is leveraged to a cyclical recovery, with total revenue expected to grow well above the 3-4% long-term growth algorithm.

DoorDash Inc. (DASH) is another standout stock with a price target of $145, which is 9% higher than MS’ price target. Analysts see multiple paths to a bull case of $3.9B for the 2026 adjusted EBITDA due to faster core growth, better U.S. restaurant economics, and smaller incremental investment losses.

Mastercard Inc. (MA) has a price target of $536, representing a 15% increase from MS’ price target. The company has consistent earnings growth and benefits from resilient consumer spending.

NICE Ltd. (NICE) has a price target of $290, which is 21% above MS’ price target. Analysts see a $26B market opportunity by 2027, reflecting assumptions for cloud adoption to reach 50% and for 15% of contact center interactions to be fully virtualized.

Salesforce Inc. (CRM) is another top pick with a price target of $350, representing a 16% increase from MS’ target. The company’s shares are trading at a discount compared to large-cap software peers and display above-consensus top and bottom-line growth.

Spotify Technology (SPOT) has a price target of $270, which aligns with MS’ target. The company is considered a market leader at the beginning of a profitability inflection.

Western Digital Corp. (WDC) rounds out the list with a price target of $73, 14% higher than MS’ target. The company is creating two standalone businesses later this year that are expected to create significant value in the hard drive business. Analysts value the drive business at $33 and the memory business at $40, based on earnings comparisons with competitors like Seagate and Micron Technology.

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