Goldman Sachs updated its global stock pick list for September, adding some stocks and deleting some. The stocks appear on the investment bank’s “Conviction List – Director’s Picks,” which aims to provide investors with a “curated and active” list of 15 to 25 Buy-rated stocks. Stocks on the list are selected by subcommittees appointed for each region by the Bank’s Investment Review Committee. Goldman Sachs said: “The subcommittee will work with analysts across industries to identify the best ideas that combine conviction, differentiated views and high risk-adjusted returns.” Here are the latest three additions to Goldman Sachs’ list of director cuts – Asia Pacific and Europe – has over 30% upside potential over the next 12 months. Goldman Sachs is bullish on Chinese battery maker Contemporary Amperex Technology (CATL). The bank said the country’s battery industry is at a “positive inflection point” and cited “sustainable global battery demand” as favorable conditions for the company. Eric Shen, an analyst at the bank, predicts that the company’s earnings per share will grow at a compound average growth rate (CAGR) of 25% from 2024 to 2030, supported by differentiated battery products. CATL’s shares are listed on the Shenzhen Stock Exchange and trade in the Amplify Lithium & Battery Technology ETF (weight 6.8%) and the KraneShares MSCI China Clean Technology Index ETF (weight 6.6%). Its shares are up about 14.6% so far this year. Goldman Sachs set a 12-month price target on the stock at 307 yuan ($43.16), implying a potential upside of about 64%. Sumitomo Mitsui Financial Group Japanese bank Sumitomo Mitsui Financial Group is another stock to make Goldman’s list. The bank’s analyst Makoto Kuroda is bullish on the company as it “continues to see positive results from (1) Japan’s return to economic growth and normalization of interest rates, (2) improvements in corporate governance and (return on equity), and (3) ), positive profit momentum. She added in the bank’s Sept. 3 Asia List report that she is supportive of the company “given strong earnings and share buyback prospects” and an “attractive” valuation. Optimism. SMFG shares have been on a downward trend, but are up nearly 37% year to date. Its shares trade on the Tokyo Stock Exchange and are listed in the United States as American depositary receipts (ADRs), and Goldman Sachs has a price target of 13,600 yen ($93.82), implying a potential upside of nearly 45%. Glencore Also on Goldman’s list is Swiss commodities trading and mining company Glencore. According to the European list released by the bank on September 3, analyst Matt Greene believes that the stock will benefit from “increased energy transition demand and supply disruptions leading to a widening commodity deficit, and an attractive outlook for copper prices.” . Goldman Sachs said: “Glencore has one of the more attractive copper growth prospects across his coverage universe (2025-2028), driven by lower-risk, less capital-intensive brownfield options in its portfolio. Glencore’s shares trade on the London Stock Exchange as American Depositary Receipts and have fallen nearly 20% this year, with Goldman Sachs setting a price target of 520 pence (6.82 pence). USD), implying potential upside of approximately 37.2%. — CNBC’s Michael Bloom contributed to this report.
