Goldman Sachs added these global stocks to its 'conviction' lists

📆 04/07/2024 01:45:00
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Tencent Holdings Ltd Notizia

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CNBC Pro looks at two additions — one from Asia and one from Europe — to the investment bank's 'directors' cut' of top global stocks.

Goldman Sachs has refreshed its lists of top global stock picks for July, adding some and removing others. The stocks are featured in the investment bank's "Conviction List - Directors' Cut" which seeks to offer investors a "curated and active" list of 15 to 25 buy-rated stocks. Stocks on the list are selected by a subcommittee designated by the bank's Investment Review Committee for each region.

Other merits he sees include its "committed & consistent shareholder returns policies in the form of buybacks and dividends — at least HK$100bn in annual share repurchases for 2024 ." These factors, Keung added, "should underpin the stock." Tencent is listed in the Hong Kong Stock Exchange and as an American Depositary Receipt in the U.S. Shares in the tech giant have been picking up after a bumpy ride in the past few months.

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