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29 stocks to buy with underrated earnings: Goldman Sachs

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Goldman Sachs: These 29 stocks are poised for higher profits this year than anyone on Wall Street expects

Investors are also misjudging earnings this year for economically sensitive companies.US stocks have enjoyed an unexpected relief rally so far this year, but a recent report from Goldman Sachs found that many fund managers have missed out on it.

Just 28% of large-cap mutual fund managers outperformed their benchmarks in the first quarter, wrote David Kostin, the firm's chief US equity strategist, in an April 4 note. It appears that many of those funds had braced for more selling by limiting their exposure to mega-cap companies in the technology sector. That's turned out to be a misplaced bet, given that

. Kostin also noted that economically sensitive companies are outperforming defensives by 4 percentage points so far this year.29 stocks to buy for better-than-expected earnings Besides underestimating giant growth stocks, Goldman Sachs thinks investors are misjudging corporate profits.

 

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