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Goldman Sachs refreshed its conviction lists of global stocks — giving one 63% upside

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Smartetfs Asia Pacific Dividend Builder ETF,Thai Oil PCL,Thai Oil PCL

CNBC Pro looks at three additions to Goldman's 'directors' cut' of top global stocks that were given more than 40% upside potential.

Goldman Sachs refreshed its lists of top global stock picks for June by adding some and removing others. The stocks are captured in the investment bank's "Conviction List - Directors' Cut" and seeks to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. The stocks are selected by a group designated by the bank's Investment Review Committee for each region.

Thai Oil Goldman also likes petroleum refining company Thai Oil thanks to its "strong cash flow generation," "declining capex intensity stronger earnings power." The bank's analyst Nikhil Bhandari highlighted that the company's Clean Fuel Project to generate sustainable fuel stands to generate a 45% increase in capacity and 40% EBITDA/bbl margin accretion. This will eventually translate to an EBITDA CAGR of 37% over 2024 to 2026, he added.

 

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