Moderna and Etsy are down more than 40% in 2023, but they are among a handful of beat-up stocks that may make a major comeback this year, according to Goldman Sachs. The firm is still optimistic on equities as broader worries on higher-for-longer interest rates dampen market sentiment.
Barclays downgraded the stock to equal weight on Monday, similarly expecting near-term headwinds with price cuts, market share losses and a potential slowdown in Europe before SolarEdge could see some good news. Etsy could gain over 70% over the next 12 months, according to Goldman's price target on the e-commerce platform. Shares took a dive after Etsy's third-quarter guidance overshadowed an otherwise better-than-expected second quarter.
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