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With several Covid-19 vaccines in Phase 3 trials and preliminary data due as soon as later this month, Goldman Sachs is preparing its clients for a rebound in certain stocks and recommending tweaks to client portfolios.
It grouped a list of several U.S. equities into four buckets.
The first bucket includes stocks that have sold off in 2020 but should bounce back as people "'return to normal.'" The second bucket is comprised of equities that appear to have gained a competitive advantage but need their markets to reopen to capitalize.
The third are those that should bounce back when global growth recovers. And the fourth bucket are those stocks that should fare well over the long term but remain shaky in the near term, even if a vaccine is approved.
"While we take no view on when a vaccine will be approved for the virus, against this backdrop of potential catalysts ahead, we look across our US GIR coverage universe to identify a relatively short list of 19 stocks that our analysts believe could outperform once a vaccine is approved," wrote Goldman analyst Chris Hussey.