Goldman Sachs has refreshed its list of top global stock picks, adding some and removing others. The shares are featured on the investment bank’s “Conviction List – Directors”, which it says offers a “curated and active” list of rated stocks. They are selected by a subcommittee in each region that “collaborates with each sector analyst to identify the top ideas that offer a combination of conviction, diverse views and risk-adjusted returns,” Goldman Sachs said. Companies removed from the list for October include Qantas Airways and Chinese semiconductor company GigaDevice in Asia-Pacific, as well as oil major Shell and Italian fashion house Zegna in Europe. There are also many additions to the Directors’ Cut, including the following three stocks that Goldman also gives more than 20% upside potential over the next 12 months. Experian Experian, a Danish data company known for offering consumer credit scores, is one such stock. “Experian has done well (year-to-date), which has investors asking where the next leg might come from,” the investment bank said. Analyst Suhasini Varanasi believes the company is “unlocking the data ecosystem (which) will drive growth and margins.” Experian’s investment in new products and services “is now at a tipping point and should support a step-up in organic revenue growth,” he wrote in a note Oct.1 bank in its European list. The development, he added, is likely to push the company’s organic revenue growth to 9.5% between 2026 and 2029, from a historical rate of between 5% and 7%. Shares in Experian are listed on the London Stock Exchange and as an American Depositary Receipt (ADR) in the U.S. The shares are up about 22.2% annually. Goldman has a 12-month price target of £52 ($68) on the stock, implying almost 33% upside potential. Assuransi Generali Italia Assicurazioni Generali is another stock that made Goldman’s list. Bank analyst Andrew Baker likes that the company is “well positioned to reduce the central bank’s policy rate.” “The company faces the greatest competition from non-insurance savings products, and the reduction in short-term interest rates should help reduce concerns about non-performance,” the bank said in a note on October 1 on the European list. Baker also stated that about 90% of Generali’s casualty business is retail, compared to an average of 55% among competitors, and that he “likes the risk reward of the retail bias.” The shares, which are up around 37% year-to-date, are traded on the Milan Stock Exchange and are also included in the iShares MSCI Italy ETF (4.9% weight), among other exchange-traded funds. Goldman has a 31.50 euro ($34.50) price target on the stock, indicating a 20/5% upside potential. Keppel On Goldman’s Asia-Pacific list is Singaporean conglomerate Keppel, which works in property, infrastructure and asset management. According to analyst Xuan Tan, the stock is benefiting from growth in the infrastructure segment, which is “poised to benefit from higher electricity demand and the energy transition.” Keppel’s capacity expansion of about 50% to 1,900 megawatts by 2026 may “capture this longer-term opportunity,” Tan wrote in an Oct. 2 note on the Asian-listed bank. Analysts also see the potential for future acquisitions given the interim divestment target of 5-7 billion Singapore dollars ($3.8 billion-$5.4 billion). Shares in Keppel are traded on the Singapore Stock Exchange and are ADRs in the US. Goldman has a S$7.80 price target on the stock, indicating a 20.4% upside potential. – CNBC’s Michael Bloom contributed to this report.
Goldman added these global stocks to its list of convictions
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