Goldman adds three new names to its favorite stocks list
Goldman added an energy stock, a Dutch payment processing company and a German insurance name to its latest European stock picks list.
TL;DR
- Goldman Sachs' September European 'Conviction List' includes new additions Adyen, RWE, and Talanx.
- Adyen is highlighted for its integrated technology platform, growth from new clients (Toast, Shopify), AI partnerships (OpenAI, Google, Microsoft), and recent acquisitions.
- RWE is noted for its pivot to a vertically-integrated energy firm, benefiting from U.S. renewables, LNG, European capacity payments, and its stake in grid operator Amprion.
- Talanx is favored for its lean cost base, resilience reserves, growth in its Retail International division (Poland, Latin America), and M&A capacity.
- Enel, Wise Group, Hannover Re, and Zalando have been removed from the list.
- Rheinmetall, Siemens, ASML Holding, HSBC, and CVC Capital Partners remain on the list.