A potential recession, high inflation levels and uncertainty around energy markets are just some reasons why investors are steering clear of Europe right now – but Goldman Sachs remains positive on a number of stocks in the region. The investment bank updated its "conviction list – directors' cut" stocks to buy in Europe in an Oct. 31 note, describing it as "a curated list of our most differentiated fundamental Buy ideas across our European coverage.
mountain Year-to-date share price of ASML Holdings Goldman remains bullish on ASML, thanks to its "multi-year growth story with de-risked near-term estimates." The bank expects the stock to hit 785 euros in the next 12 months, giving it a 42% upside from its close on Oct. 30. Stocks on the list British telecommunications player BT Group made the investment bank's updated directors' cut list – with an upside of around 149% from its Oct.
which are less risky and yield returns of around 2.5%, the bank's analysts wrote. They are thus focused on identifying quality growth and select value stocks for their their conviction list of top buy-rated stocks. — CNBC's Michael Bloom contributed to this report.
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