Goldman Sachs just picked these 10 new stocks to buy

Published Wed, Sep 1 20217:30 PM EDT

Lucy Handley @in/lucy-handley-b2b0a61a/@lucyhandley

Goldman Sachs analysts started covering more than 50 stocks in August across sectors including tech, electric vehicles, consumer goods. They gave about half of the stocks a buy rating — here are 10 of their top picks: American barbecue maker Weber has a "solid growth story tied to the investing in the home theme with high brand awareness and global scale," according to Goldman's analysts in an Aug. 30 research note. The bank initiated the stock with a buy rating. U.S.-based zero-calorie drinks company Zevia was added to Goldman's coverage on Aug. 16, with analysts calling it "an emerging, fast-growth beverage company that checks all the boxes of an on-trend consumer brand." The bank's 12-month price target is $28, representing significant upside from its current share price of around $14.30. Money transfer firm Wise , whose London listing saw the company valued at around $11 billion in July, is a Goldman pick for being a "founder-led business that offers a scarce growth profile in Europe – combining high growth with high margins in a very under penetrated market," the bank said in an Aug. 17 research note. Goldman started covering H-shares of Chinese car company Li Auto on Aug. 12 and added the stock to its conviction list (H-shares are listed on the Hong Kong stock exchange and can be traded by people outside China). "Li Auto is differentiating itself from the broader Chinese auto-making industry by envisioning and creating compelling EV consumer experiences – and showing a willingness to take on the risk of unconventional technologies," the bank's analysts stated. The bank also added Indian spirits company Radico Khaitan to its conviction list last month and started covering the stock on Aug. 10, with analysts liking its premium launches in vodka, gin and whiskey. The company is also set to benefit from shops and bars reopening as Covid lockdowns are lifted, the analysts, led by Aditya Soman, said. Fellow Indian company Zomato , a food delivery platform, was added to Goldman's coverage on Aug. 28, with analysts praising its "strong execution, large restaurant review platform, and initial focus on less competitive cities." Goldman gave the stock a potential 44% upside to its 12-month price target. Goldman initiated coverage on Hoya , a Japanese optical company, on Aug. 11, liking its "management capability, high profitability, and advanced corporate governance structure," as well as a "big fish in a small pond" strategy. The analysts see potential for high profit, they added. Mortgage tech company Blend Labs was added to the bank's coverage on Aug. 10, with analysts liking the American firm's ability to up-sell products to consumers, potential to expand into other financial products and "best-in-class" technology platform. The stock has a potential upside of over 50% to the bank's price target, according to analysts. Goldman initiated coverage on food company Dole on Aug. 24, with analysts commenting on its presence in the U.S. and Europe, as well as its investment in "higher growth, margin accretive, sub-categories," such as healthy and natural food. The bank also liked its logistics network and centralized procurement. Chinese lab testing company Kindstar Globalgene Technology was added to Goldman's coverage on Aug. 18 with analysts highlighting its presence in hematology — or blood testing — ability to scale and advanced technology.

Cans of Zevia soda are seen in a supermarket in Los Angeles, California.

Lucy Nicholson | Reuters