2024's Potential Stock Surprises: Goldman Sachs Unveils S&P 500 Laggards For Major Gains
Portfolio Pulse from Piero Cingari
Goldman Sachs has identified S&P 500 laggards with potential for significant gains in 2024. These stocks have underperformed the market but are Buy-rated with upside potential. Categories include stocks with bullish views, defying consensus estimates, reasonable valuations, rebounding margins, and superior CROCI. Notable stocks include Moderna, Pfizer, Enphase Energy, Darling Ingredients, Shoals Technologies, ANGI Homeservices, Array Technologies, First Solar, Bath & Body Works, Sensata Technologies, Aptiv, and Bristol-Myers Squibb.
December 06, 2023 | 2:26 pm
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POSITIVE IMPACT
ANGI Homeservices Inc. has an 84% upside to target with a YTD underperformance of -16% vs. S&P 500.
ANGI Homeservices' smaller YTD underperformance relative to others and a significant upside target indicate a positive short-term outlook.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Aptiv PLC has a 52% upside to target with a YTD underperformance of -29% vs. S&P 500.
Aptiv's superior CROCI and upside potential suggest a profitable short-term investment, despite its YTD underperformance.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Array Technologies Inc. has an 89% upside to target with a YTD underperformance of -60% vs. S&P 500.
Array Technologies' significant upside potential and alignment with growth at reasonable valuations suggest a strong investment case.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Bath & Body Works Inc. has a 45% upside to target with a YTD underperformance of -39% vs. S&P 500.
Bath & Body Works' expected rebounding margins and positive sales growth outlook present a favorable short-term investment scenario.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Bristol-Myers Squibb Co. has a 38% upside to target with a YTD underperformance of -50% vs. S&P 500.
Bristol-Myers Squibb's significant underperformance and upside potential, along with its efficient capital use, make it a key stock to watch.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Darling Ingredients Inc. has an 86% upside to target with a YTD underperformance of -47% vs. S&P 500.
Darling Ingredients' significant upside potential and divergence from consensus estimates could lead to unexpected short-term gains.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Enphase Energy Inc. has a 48% upside to target with a YTD underperformance of -79% vs. S&P 500.
Enphase Energy's deep underperformance and the potential for a 48% gain as identified by Goldman Sachs suggest a strong investment opportunity.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
First Solar Inc. has a 72% upside to target with a YTD underperformance of -13% vs. S&P 500.
First Solar's moderate YTD underperformance and a strong upside target make it a compelling short-term investment opportunity.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Moderna Inc. has a 189% upside to target with a YTD underperformance of -75% vs. S&P 500.
Moderna's significant underperformance coupled with a high upside potential as per Goldman Sachs' analysis suggests a strong rebound possibility, making it an attractive investment.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Pfizer Inc. has a 66% upside to target with a YTD underperformance of -63% vs. S&P 500.
Pfizer's notable underperformance and Goldman Sachs' bullish stance indicate a potential for recovery and gains in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Shoals Technologies Group has an 89% upside to target with a YTD underperformance of -60% vs. S&P 500.
Shoals Technologies' large upside target and YTD underperformance suggest a strong rebound potential, aligning with Goldman Sachs' analysis.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Sensata Technologies Holding has a 45% upside to target with a YTD underperformance of -37% vs. S&P 500.
Sensata Technologies' potential for improved operating margins and sales growth could drive its stock price up in the short term.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 75