The Goldman Sachs Conviction List is a curated list of stocks that the firm’s research team believes are highly likely to outperform the market. It’s a tool for investors to identify stocks with strong growth potential, frequently updated to reflect changes in market conditions and company performance. The list aims to identify stocks where Goldman Sachs analysts have the “highest level of conviction” in their outperformance. The Conviction List offers investors a valuable perspective on the stock market, enabling them to identify potential investment opportunities.
Founded in 1869, Goldman Sachs is the world’s second-largest investment bank by revenue and ranks 32nd on the Fortune 500 list of the largest U.S. corporations by total revenue. The Wall Street white-glove giant offers financing, advisory services, risk distribution, and hedging for the firm’s institutional and corporate clients. We screen the firm’s Conviction List of top stock ideas each month, identifying new companies added to the list and those removed.
For April, the firm added two new stocks, one of which is an outstanding total-return idea for growth and income investors. Both new additions have double-digit upside potential relative to the Goldman Sachs price targets.
Why we recommend Goldman Sachs stocks
Goldman Sachs Research ranks among the best for its unmatched breadth—covering over 3,000 securities, 45+ economies, and all major markets—and rigorous, data-driven analysis. The team delivers thousands of proprietary forecasts, models, and unique indicators, backed by top-tier global analysts and innovative thought leadership on macro, industries, and trends, earning consistent recognition as a trusted resource for institutional investors and high-net-worth investors.
Carlisle
This specialty provider of building materials for energy-efficient construction pays 1.26% dividend. Carlisle Companies (NYSE: CSL) is a manufacturer and supplier of building envelope products and solutions that enable energy efficiency in buildings. The Goldman Sachs team had this to say about the company in the Conviction List report:
Analyst Sue Maklari sees a path to a positive topline inflection in 2026, even if non-residential construction activity remains fairly dormant. And alongside tech-driven cost efficiencies, and a boost from buybacks, Maklari looks for EPS growth of 7% this year, accelerating to 15% in 2027. With the stock trading at a NTM P/E of 16x vs an average of 18x since completing the strategic shift to a pure-play building products company in 2024, she expects upside as investors gain greater confidence around the path for earnings.
Its segments include:
- Carlisle Construction Materials (CCM)
- Carlisle Weatherproofing Technologies (CWT)
The CCM segment produces a complete line of energy-efficient single-ply roofing products and warranted roof systems and accessories for the commercial building industry, including:
- Ethylene propylene diene monomer
- Thermoplastic polyolefin and polyvinyl chloride
- Membrane, polyisocyanurate insulation
- Engineered metal roofing and wall panel systems for commercial and residential buildings
The CWT segment produces building envelope solutions that drive energy efficiency and sustainability in commercial and residential applications. Its products include these:
- Waterproofing and moisture protection products
- Protective roofing underlayments
- Fully integrated liquid and sheet-applied air/vapor barriers
The Goldman Sachs price target for the stock is $442, representing a 32% gain from current levels.
Citizens Financial
This quality financial services pick pays a solid 2.87% dividend and offers double-digit upside potential. Citizens Financial Group (NYSE: CFG) offers a range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions. Goldman Sachs noted this in the Conviction List report:
Analyst Ryan Nash believes that the bank should continue to benefit from having a best-in-class return improvement story, solid organic growth from its private bank, and optionality for further Return on Tangible Common Equity improvement or investing for the next leg of growth from its ‘reimagine the bank’ initiative which is targeting substantial operating savings. And as the bank brings capital ratios lower in 2027+, buyback expectations are likely to increase further, particularly given the proposed changes in bank capital rules where CFG should see higher than peer benefits from its residential and commercial loan portfolios.
The company operates through two segments. The Consumer Banking segment serves consumer customers and small businesses, offering products and services including deposits, mortgage and home equity lending, credit cards, small business loans, wealth management, and investment services, primarily across its 14-state traditional banking footprint.
Its Consumer Banking segment operates approximately 1,000 branches, including 143 in-store locations, and approximately 3,100 ATMs. The Commercial Banking segment primarily serves companies and institutions with:
- Financial products and solutions, including lending and leasing
- Deposit and treasury management services
- Foreign exchange
- Interest rate and commodity risk management solutions
- Syndicated loans
The $76 Goldman Sachs target price signals a 27% gain.
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