Tech's done well this year — and Goldman Sachs says these 6 stocks have even further to go

Tech stocks have already had a strong year, but one corner of the sector has more "appealing" opportunities in store for investors, according to Goldman Sachs. Software stocks that Goldman covers have already soared 37% in the year to date, said the bank in a July 21 note. But the investment bank expects they'll go even further.

Six software stocks Goldman said these stocks still offer strong investment opportunities: Adobe , Salesforce , Monday.com , Microsoft , ServiceNow , Workday . "With Gen-AI presenting a strong top-line tailwind, we also see many of these names re-rating higher given below-average EV/FCF multiples," Goldman said, referring to the ratio between enterprise value and free cash flow. Here's their average upside to price targets given by analysts covering them, according to FactSet.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

For the stock market, bad news is back to being good. Here's why, says a Goldman Sachs economistEven as the market gets excited by the idea of a soft landing, growth surprises aren't well received.
Source: MarketWatch - 🏆 3. / 97 Read more »

Goldman upgrades oil demand outlook as market tempers growth pessimismGoldman Sachs on Sunday revised up its global oil demand forecast for the year while sticking to its 12-month Brent price projection of $93 per barrel as higher realized inventories offset the demand boost from a less pessimistic growth outlook.
Source: Reuters - 🏆 2. / 97 Read more »