This hyperscaler made Goldman Sachs’ list of top picks for October
The firm added five new names to its favorite stocks list as the new month got underway.
TL;DR
- Goldman Sachs added Amazon, Burlington Stores, Huntington Ingalls, Johnson Controls, and Occidental Petroleum to its October stock picks.
- Amazon is highlighted for its growth drivers including AI-related AWS demand, e-commerce profitability, and advertising growth, with a price target of $375.
- Huntington Ingalls was added back to the list due to its unique position in the U.S. defense sector and shipbuilding focus, with a price target of $439.
- Burlington Stores is seen as an attractive entry point following a recent pullback, with a price target of $382, driven by store growth, localization, and cost efficiencies.
- Amazon has underperformed the S&P 500 over the past year but is considered an attractive entry point by analyst Eric Sheridan.