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Morgan Stanley's Mike Wilson has long been cautious about US stocks, but he's no permabear.

In fact, Wilson was called "the biggest bull on the Street" shortly after becoming Morgan Stanley's chief US equity strategist in spring 2017, and his bullish S&P 500 price target at the time soon proved to be accurate.

Wilson now sees another 20% selloff ahead as four-decade-high inflation and the Federal Reserve's aggressive response cause the economy to weaken.

"With our view for lower multiples and earnings now more consensus, the markets are more fairly priced," Wilson wrote in a June 21 note to clients. "However, it does not price the risk of a recession, in our view, which is 15% to 20% lower."

In that same note, Wilson listed 19 stocks that Morgan Stanley analysts think will hold up well amid the weakness.

1. Endeavor Group Holdings

Ticker: EDR

Market cap: $9.4B

Sector: Communication Services

P/E ratio: 599.2x

2. Liberty Formula One

Ticker: FWONK

Market cap: $26.9B

Sector: Communication Services

P/E ratio: N/A

3. Match Group

Ticker: MTCH

Market cap: $20B

Sector: Communication Services

P/E ratio: 77.3x

4. Coca-Cola

Ticker: KO

Market cap: $262B

Sector: Consumer Staples

P/E ratio: 25.5x

5. Monster Beverage

Ticker: MNST

Market cap: $48B

Sector: Consumer Staples

P/E ratio: 35.8x

6. Exxon Mobil

Ticker: XOM

Market cap: $372.8B

Sector: Energy

P/E ratio: 14.7x

7. Marathon Petroleum

Ticker: MPC

Market cap: $47.8B

Sector: Energy

P/E ratio: 5.2x

8. Tenaris SA

Ticker: TS

Market cap: $15.9B

Sector: Energy

P/E ratio: 10.4x

9. Eli Lilly & Co.

Ticker: LLY

Market cap: $283.4B

Sector: Health Care

P/E ratio: 44.3x

10. Advanced Drainage Systems

Ticker: WMS

Market cap: $7B

Sector: Industrials

P/E ratio: 26.1x

11. Alaska Air Group

Ticker: ALK

Market cap: $5.1B

Sector: Industrials

P/E ratio: 11x

12. Deere & Co.

Ticker: DE

Market cap: $98.7B

Sector: Industrials

P/E ratio: 16.9x

13. Delta Airlines

Ticker: DAL

Market cap: $19.1B

Sector: Industrials

P/E ratio: 37.7x

14. Driven Brands Holdings

Ticker: DRVN

Market cap: $4.5B