Ro_Patel
Oct 1, 4:20 PM
Goldman adds
$AMZN $BURL $HII $JCI &
$OXY to its US Conviction List in the bank's Oct update
It removed Air Products and Chemicals, ConocoPhillips, Golar LNG, Loar Holdings & Tyson Foods.
On Amazon, they see the company producing a strong mix of revenue growth & margin expansion over several years. They pointed to demand for its computing power from AI, improving e-commerce profitability & a growing advertising business
Goldman expects Burlington to deliver revenue growth above 10% thru 2028, driven by store openings & SSS growth above 3%. They also see margins improving toward the retailer's long-term target of about 10%.
Huntington Ingalls returns to the list after being removed in March. They highlight the company's position as a pure US Navy shipbuilder, w/ shipbuilding revs up +15% to +20% for 4 straight quarters.
Goldman said Johnson Controls is in the early stages of a transformation that could more than double EPS thru 2028. They note its AI data center cooling business has grown orders by more than +30% for 3 consecutive quarters, lifting backlog to a record
$21B
On Occidental, Goldman said advanced recovery techniques could add 2Bboe to reserves, while cost measures could generate up to
$4B in additional cash flow by 2030
