There's a good opportunity for contrarian investors in several stocks that are unappreciated by the market, according to Goldman Sachs. In a note to investors this week, the firm shared a few of its buy-rated stocks, which the majority of Wall Street has rated neutral or sell. Goldman Sachs' 2021 earnings estimates for each stock are at least 2% higher than the consensus' forecasts. For most of these companies, Goldman has a price target that's reflecting at least 20% upside. Here are a few of those names: Travel booking site Expedia and apparel company PVH are newcomers to the list and have the highest number of buy ratings, coming from 47% of analysts covering the stock for each firm. Goldman recently named Expedia one of its favorite internet stocks , saying it's optimistic about the medium- to long-term trajectory for the travel site's operating margins after management addressed its less-efficient cost structure and spending levels from before the pandemic. The stock is up about 13% for the year. The firm also said PVH, which owns brands like Calvin Klein and Tommy Hilfiger, has 26% upside. Its stock has gained more than 16% this year. Tesla is the largest stock on the list by market cap. Of the 40 analysts that cover the stock, 17 of them, or 43%, have a buy rating on it. Goldman sees 19% upside to the price target. Competition in the electric vehicle market has been booming this year as traditional automakers transition to electric products, but for now Tesla has a solid lead in the space. Its stock is up more than 6% in 2021. Goldman anticipates 39% upside for Hyatt . The hotel chain's stock is up about 1% for the year, as Covid-19 continues to be a setback for travel industry broadly. It has a buy rating from 6% of analysts across firms.
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There's a good opportunity for contrarian investors in several stocks that are unappreciated by the market, according to Goldman Sachs.