Goldman Sachs Names 2 European Stocks It Says Can More Than Double
Goldman Sachs handed two European stocks 12-month upside above 100% in its August picks, with UK clean energy developer Ceres Power leading at 168%.
The forecast lands with European stocks at a peak, with the Stoxx 600 touching a record high on Tuesday.
Where Goldman Sachs Sees the Biggest 12-Month Gains
Ceres Power stock slid more than 31% last month as investors questioned supply chains, execution, and the durability of AI demand. Goldman analysts read that drop as an entry point, citing its licensing model and exposure to data center growth.
Rheinmetall took second place with a projected 102% upside. The German defense contractor gained 15.1% in July after beating second-quarter estimates.
Revenue rose about 69% to 3.289 billion euros, while operating profit hit 562 million euros against expectations of nearly 470 million, according to preliminary figures. Goldman analysts see the stock as sharply undervalued amid Europe's rearming.
The bank also forecasts 64% upside for BT Group and DSV over 12 months. Analysts point to BT's fiber monetization and DSV's integration of DB Schenker, though DSV shares fell 9.3% in July.
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