MORGAN STANLEY: These are the 15 best stocks for the next 12 months

With the year halfway through, Morgan Stanley analysts have compiled their "Vintage Values" report collecting their 15 best stock bets for the next year.

"Put simply, these 15 ideas represent our analysts' highest-conviction stock ideas for outperformance over the next 12 months," the analysts said. "We sought ideas that offer the best combination of differentiated research, favorable risk-reward profiles, and clear catalysts."

The picks consist of companies with market caps over $1 billion.

"We focused on anticipated events over the next year that our analysts expect will validate their investment theses, change investor perceptions, and drive the stock to our analysts' Base (or Bull) case valuation scenario," they added.

Last year's "Vintage Values" outperformed the S&P 500 by 3.56%.

We've listed the 15 stocks below with select clips from the massive 60-page report.