Missed the comeback? Goldman thinks these cheap stocks have more upside

An artist name Theodore Tsinias who wrapped himself next to the Charging Bull to show his attention about world's behavior amid Covid-19 pandemic in Lower Manhattan, New York City, United States on May 25, 2020.
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The S&P 500 has rallied more than 35% from its coronavirus bottom despite this week's pullback, stretching the market valuation to unsustainable levels. But Goldman Sachs said some names are still trading at a discount to their historical valuations and set to outperform the boarder market.

"We have seen sizable up-moves in performance laggards," since S&P 500's March low, Deep Mehta, a vice president at Goldman, said in a note. "Against this backdrop, we look to identify names where valuation and stock performance still suggest room for further upside."