These small-cap stocks have double-digit upside, Goldman says

A construction worker walks past new homes under construction by developer KB Home in Valencia, California.
Jonathan Alcorn | Bloomberg | Getty Images

Small cap stocks have stumbled in recent weeks, but there are still names with significant upside, according to Goldman Sachs.

The Russell 2000 was the worst-performing major index last month, putting a halt to a strong stretch of outperformance. Goldman's small-cap strategists said in a note that the struggles could continue as the economic reopening plays out, but there were some names that still had support from fundamentals and valuations.

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