With a very strong start to the new year and fourth-quarter earnings results still pouring in, many investors are resetting for what could be a tricky balance for the rest of the year. The confluence of the highest inflation in 40 years, a deadly and now one-year-old conflict between Russia and Ukraine looking like a stalemate, a rising interest rate scenario that could include as many as two additional rate hikes this year and the fear that the market and the economy could possibly tumble has caused many growth stock investors to pause.
One of Wall Street’s most respected lists of stock picks is the Goldman Sachs Conviction List. These are the firm’s top picks, spread across 10 sectors, for high-net-worth and institutional investors. We screened the list looking for the companies that had the largest upside to the assigned target prices at Goldman Sachs. We found five that aggressive growth investors may want to add to portfolios. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
BioMarin Pharmaceuticals
This stock is a Wall Street favorites, and the company posted solid earnings last year. BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company’s product portfolio includes five approved products and multiple clinical and preclinical product candidates.
Over the past decade, BioMarin has become one of the top orphan drug companies, and it looks poised to stay there. Roche has been mentioned as a company that could be looking at BioMarin. Roche is heavily focused on oncology drugs and invests heavily in early-stage molecules.
Goldman Sachs is positive on BioMarin and has remained so for years, based on pipeline optionality and clinical and commercial execution. The company is actively involved in evaluating new programs, both genome medicine and others, and its manufacturing expertise positions it to take a key leading role or to “catch up” to competitors in genome medicine, while solid fundamentals will continue to support long-term pipeline innovation.
The Goldman Sachs price objective on BioMarin Pharmaceutical stock is $170. The consensus target is $122.52, and shares ended Monday trading at $112.18, so the upside to the Goldman Sachs target is 50%.
Bunge
This top mid-cap stock has rallied nicely off the 2022 lows but still offers investors an outstanding entry point. Bunge Ltd. (NYSE: BG) operates as an agribusiness and food company worldwide. It operates in the following segments.
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