Analysts at Wall Street investment bank Goldman Sachs have upgraded multiple stocks to buy in the past few weeks, with U.S. and global picks in sectors such as health care, semiconductors and energy. The analysts upgraded Singapore's stock exchange SGX to buy, detailed in an Aug. 17 research note. SGX raised its 2022-2024 revenue estimates by 2% to 3% due to a "stronger outlook" in the firm's fixed income, currencies and commodities division, Goldman stated. Fellow Singaporean firm CICT , a real estate company, was upgraded by Goldman on Aug. 5. "With [the] vaccination rate in Singapore on track to hit 80% by Sep-21, we adopt a more favorable view on commercial REITs [real estate investment trusts] and upgrade CICT from Neutral to Buy," the bank's analysts stated. Chinese medical tech firm Yidu Tech was also upgraded on Aug. 17, with Goldman's analysts estimating the company will see a "strong" 51% compound annual growth rate between 2021 and 2026 due to favorable policy and a growing client base. Goldman upgraded Hong Kong real estate firm Swire Properties , saying "we see early signs of stabilization with HK office take-up returning to positive, the first time since mid-2019," in a Aug. 16 research note. "Since the social unrest in mid-2019, the company has demonstrated strong portfolio management capabilities allowing it to drive a continued decentralization trend," the analysts wrote, referring to protests against a controversial extradition bill . The bank is "full steam ahead" on Taiwanese semiconductor foundry Vanguard and upgraded it to a buy, saying in an Aug. 4 research note that the firm "has solid execution and [a] good track record." The analysts also like its long-term agreements with customers meaning it can extend its capacity. Polish copper and silver company KGHM was upgraded by Goldman, whose analysts said it "provides good exposure to the copper theme at an undemanding valuation," in an Aug. 3 note. U.S. freight firm XPO was upgraded by Goldman on Aug. 2, with analysts liking the company's plans to spin off logistics arm GXO. The firm has "strong" fundamentals and an "attractive valuation" and Goldman gave it a 12-month target price of $103 per share after the separation, representing "about 23% upside from current levels." South Korean drug company Daewoong Pharma was upgraded to a buy on July 30, with Goldman's analysts liking its "portfolio mix improvements," and "termination of low-margin contract manufacturing." The bank expects the company to beat consensus earnings estimates on an ongoing basis. Oil industry supplier Halliburton was upgraded by Goldman to a buy on July 20, with analysts noting its turnaround plans. They said the firm has a "clearer path to improved returns and dividends," and like its "favorable" business mix toward international customers. U.S. health care firm Option Care Enterprises was upgraded by the bank on July 18. "COVID-19 has cast light on the importance of alternative channels of care delivery, including home health, and we expect continued strong tailwinds for the sector broadly for the foreseeable future," Goldman's analysts stated in a research note.
A Goldman Sachs sign at at NYSE.
Brendan McDermid | Reuters
Analysts at Wall Street investment bank Goldman Sachs have upgraded multiple stocks to buy in the past few weeks, with U.S. and global picks in sectors such as health care, semiconductors and energy.
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