Goldman Sachs welcomed three new stocks into its conviction list as the second half of the trading year commences. Fox Corp. , Global-e Online and Snowflake have been added to the list, while Monday.
com and Quanterix have been removed. The list is a curated group of stocks that the firm's research analysts believe are the "most differentiated fundamental Buy ideas" within the U.S.
stock market. Here are 10 that made the cut: New addition Fox has a concentrated portfolio focused on news and sports that should be "more resilient" in a media landscape hampered by cord-cutting pressures, according to Goldman. Sporting events, political advertising and optimizing rights can help the company outperform expectations for earnings before interest, taxes, depreciation and amortization, the firm added.
On top of that, it said Fox's unconsolidated assets are underappreciated. Goldman is in the minority on Wall Street. The average analyst polled by LSEG has a hold rating on the stock, and the average price target implies shares can climb 10% over the next year, adding to the 15% advance so far in 2024.
Financial technology stock Global-e is exposed to some of the fastest-growing areas of e-commerce, such as cross-border and direct-to-consumer. The Israel-based firm should also see growth accelerating in the second half of this year and during 2025, Goldman said. Global-e shares have bucked the broader market's uptrend this year with a slide of almost 7%.
But the Street sees a turnaround a.
