Goldman Sachs has a raft of new stock picks with more than 20% upside – here are 10

Published Sun, Sep 26 20217:30 PM EDT

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

Goldman Sachs started covering multiple stocks this month — several of which have a potential upside of at least 20%. These are in addition to its large U.S. internet company initiations , where it gave buy ratings to seven stocks. Goldman's new stock picks range from health to finance and feature U.S. and global companies. Here's a rundown of 10 of its buy-rated picks: Health U.S. primary care provider Oak Street Health is "highly differentiated" according to Goldman, which started covering the stock on Sept. 7. "The company has demonstrated an ability to scale while preserving clinical and financial outcomes, and we see this continuing within the $325B+ market opportunity," the bank said, adding that it has a potential 50.3% upside to its 12-month price target. Goldman started covering Chinese online medical provider Alibaba Health on Sept. 16, saying it will see "relatively fast revenue growth" in the next three years. It noted upcoming drugs regulations in China but said the company's scale would help it grow long term and estimated a 42.1% potential upside to its price target. Oncoclinicas , a Brazilian oncology company, has a 68.8% potential upside to Goldman's 12-month price target and the bank likes the stock for its single-sector focus and network of specialists, it said in a Sept. 16 research note. Indian pharmaceutical ingredients company Glenmark Life Sciences is a pick as a "leading" developer in the sector, which has a market size of more than $140 billion, Goldman said. It estimated the stock has a 28.4% potential upside to its 12-month price target in a Sept. 13 note. Finance Goldman started covering stocks in the U.S. investment banking sector on Sept. 20, estimating that Jefferies has a 23% upside potential to its 12-month price target. Jefferies is winding down its merchant bank, and once done, Goldman expects it to make higher returns. The bank also likes Piper Sandler for its "evolution away from asset management and trading to a high-returning, capital-light investment bank," and said the market had not yet priced in this move. The stock's estimated upside is 24% to Goldman's 12-month price target. Goldman also initiated coverage of two Kazakhstan banks, Kaspi and Halyk Bank . Kaspi is set to benefit from an increase in e-commerce, Goldman said in a Sept. 8 research note, and estimated the stock has a 32% potential upside to its 12-month price target. In the same note, Goldman said Halyk – Kazakhstan's largest bank – is "highly capital-generative" and gave the stock an estimated 27.3% potential upside. Infrastructure and materials U.S. engineering group MasTec works in several long-term growth markets, according to Goldman in a Sept 17. note, with specialists well-suited to dealing with complex infrastructure projects. The bank gave the stock a 39.6% potential upside to its 12-month price target. Paris-headquartered steel firm Constellium is a pick for Goldman, which started covering the stock on Sept. 9. The bank likes its exposure to the packaging and auto industries, steady growth and "multiple expansion potential." The bank said the stock has a potential upside of 30.9% to its 12-month price target.

A Goldman Sachs sign at at NYSE.

Brendan McDermid | Reuters