Merck serves drug wholesalers and retailers, hospitals and government agencies as well as managed health care providers, such as health maintenance organizations, pharmacy benefit managers and other institutions. It also serves physicians and physician distributors, veterinarians and animal producers. The company has collaborations with AstraZeneca, Bayer, Eisai, Ridgeback Biotherapeutics and Gilead Sciences.
Shareholders receive a 2.74% dividend. The top health care play on the Goldman Sachs Conviction List has a $122 target price. Merck stock has a consensus target of $118.71. Friday’s closing print of $106.39.
Tapestry
This retail idea offers some serious total return upside potential as a contrarian play. Tapestry Inc. (NYSE: TPR) provides luxury accessories and branded lifestyle products in the United States, Japan, China and elsewhere. The company operates in three segments: Coach, Kate Spade and Stuart Weitzman.
The company offers women’s accessories, including handbags, such as wallets, money pieces, wristlets and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks and portfolios; and key rings and charms.
Tapestry also provides bag collections, including business cases, computer bags, messenger-style bags, backpacks, and totes; small leather goods, such as wallets, card cases, travel organizers and belts; and footwear, watches, fragrances, sunglasses, novelty accessories and ready-to-wear for men. In addition, it offers women’s footwear; sunglasses; bracelets, necklaces, rings and earrings; fragrances and watches; women’s seasonal lifestyle apparel collections, including outerwear and ready-to-wear; and cold weather accessories, which comprise gloves, scarves and hats.
Further, the company provides footwear items, housewares and home accessories for kids, such as fashion bedding and tableware, as well as stationery and gifts. It licenses rights to market and distribute its tech and soft accessories, jewelry, watches, eyewear and fragrances under the Coach brand, and tableware and housewares, fashion beddings, tech accessories, watches, sleepwear, eyewear, stationery and gifts and fragrances under the Kate Spade brand.
As of July 2, 2022, the company operated through a network of 945 Coach stores, 398 Kate Spade stores and 100 Stuart Weitzman stores. It sells its products through e-commerce sites, concession shop-in-shops and wholesale customers, as well as through independent third-party distributors.
Investors receive a 2.85% dividend. The Goldman Sachs target price of $50 is near the $50.59 consensus target. Tapestry stock closed at $43.11 on Friday.
These seven top companies, for a variety of reasons, are among the best ideas from the analysts at Goldman Sachs. They all make sense for growth and income investors looking for stocks that still offer reasonable entry points. With first-quarter earnings reporting starting in earnest soon, it may make sense to buy partial positions now and see how the results come in.
Originally published at 24/7 Wall St.
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