Goldman Sachs just refreshed its conviction lists of global stocks, giving 3 over 40% upside

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Goldman Sachs has refreshed its lists of top global stock picks for December by adding some and removing others.

These stocks are featured in the investment bank's "Conviction List - Directors' Cut," a "curated and active" list of its buy-rated stocks. They are selected by a subcommittee in each region which "collaborate with each sector analyst to identify top ideas that offer a combination of conviction, a differentiated view and high risk-adjusted returns," according to Goldman Sachs.

Kawasaki Heavy Industries In Asia, Japan's Kawasaki Heavy Industries - which manufactures motorcycles and aerospace and defense equipment, made Goldman's list. "KHI is one of Japan's top three heavy industry companies by revenue, and the contribution to profit growth from its aerospace/defense business is comparable to peers Mitsubishi Heavy Industries and IHI Corporation," the investment bank wrote in a Dec 2 note on its Asia list.

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