Home Editor's Picks Goldman just added these 3 European stocks to its flagship buy list

Goldman just added these 3 European stocks to its flagship buy list


Goldman just added these 3 European stocks to its flagship buy list By Investing.com

Breaking News


AuthorVahid KaraahmetovicPro News

Published Mar 01, 2024 04:00AM ET

© Reuters Goldman just added these 3 European stocks to its flagship buy list

Your path to investing mastery starts here with InvestingPro! This FREE article offers a sneak peek into the pro user experience, providing real-time market wisdom. Elevate your journey – upgrade now using promo code HOT2024 for an extra 10% off. Time’s running out, seize the moment and click here to upgrade!


Goldman Sachs equity analysts added three new names to its European Conviction List, a selection of stocks the investment bank expects to outperform.

Among the new additions are Adyen (AS:ADYEN) (OTC: ADYEY), DSV (CSE:DSV) (OTC: DSDVY), and Ermenegildo Zegna NV (NYSE:ZGN).

In the payments space, Goldman analysts see Adyen’s offering “as amongst the best-in-class,” with the company “entering a sweet spot of top-line growth and margin expansion.”

“Adyen is the clear market leader in high functionality, full stack, global multi-channel offers with its single, fully integrated platform,” the broker’s note said.

Analysts expect Platform growth in particular to be an incremental driver in future years given it is the only payments player providing ‘Enterprise level’ capability to SMBs to manage rising complexity.”

DSV, meanwhile, has witnessed a mostly flat stock market performance in the past 12 months after being impacted by negative earnings growth after a cyclical peak in 2022.

However, after seven consecutive quarters of EBIT decline, analysts anticipate a positive inflection from the second quarter of 2024, “supported by a cyclical improvement in Air and Sea volumes” and “stabilizing gross profit yields.”

“Analysts expect inorganic growth remains a key source of upside optionality with recent management meetings emphasizing that M&A remains a key priority,” Goldman said in the note.

As for the final addition to the list, Zegna, analysts believe the company’s “outsized exposure to premium customer not reflected in valuation.”

Analysts have become increasingly optimistic about ZGN’s demand in the Americas, especially in the high-end segment, citing positive ‘wealth signals’ such as the S&P 500 rally and rising home prices.

“Zegna is well-positioned to benefit from this robust outlook given >20% of sales are derived from the Americas,” the note writes.

Simultaneously, three companies were removed from the flagship buy list, including Dassault Systemes (DASTY (OTC:DASTY)), Delivery Hero (DLVHF), and Ferrovial (FERVF).

Goldman just added these 3 European stocks to its flagship buy list

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information

© 2007-2024 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related News