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 list has been known to focus on specific themes, such as artificial intelligence, consumer trends, and sustainability. 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 giant offers financing, advisory services, risk distribution, and hedging for its 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 June, the firm added four new stocks, one of which is an outstanding total-return idea for growth and income investors. All four new additions have double-digit upside potential to Goldman Sachs’ price targets.
Why we recommend Goldman Sachs stocks
Goldman Sachs is the acknowledged leader in the investment landscape on Wall Street and worldwide. The firm’s highly regarded research department continues to provide institutional and high-net-worth clients with the best ideas across the investment spectrum. It is likely to continue doing so for years.
Here are the four new stock additions to the Conviction List for June, along with the analyst’s comments from the research report.
Block
Run by Silicon Valley legend Jack Dorsey, this exciting tech idea offers a solid entry point. Block (NYSE: XYZ | XYZ Price Prediction) builds technology to increase access to the global economy.
Goldman Sachs analyst Will Nance is looking for 64% / 36% EPS growth in 2026 and / 2027 and sits 4% ahead of consensus on the latter. He expects the neobank and payment platform to execute on its initiatives to drive more and stickier users to its platform and drive margin efficiencies.
The company operates through two segments. The Square segment includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App.
The Cash App segment includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin, and stock investments. The Cash App also includes a Cash App Card linked to customers’ stored balances, which they can use to make purchases or withdraw funds from an ATM. And Cash App includes the BNPL platform. Its Afterpay business is transforming the way customers manage their spending over time.
Its TIDAL business is a music platform that empowers artists to thrive as entrepreneurs. The Bitkey business is a simple self-custody Bitcoin wallet, while the Proto Business is a suite of Bitcoin mining products and services.
The Goldman Sachs target price is $95, which represents a 25% gain from current levels.
Casella Waste Systems
The name says it all, and this company has significant upside relative to the Goldman Sachs target price. Casella Waste Systems (NASDAQ: CWST) is a regional, vertically integrated solid waste services company that provides resource management and services to residential, commercial, municipal, institutional, and industrial customers, primarily in solid waste collection and disposal, transfer, recycling, and organics services. It also holds collection operations across eastern Pennsylvania and western New Jersey.
Goldman analyst Adam Bubes sees scope for a sustained, mid-single-digit percentage organic EBITDA CAGR at Casella Waste Systems, driven by its Solid Waste pricing algorithm, with additional upside from SG&A savings and M&A synergies.
The company manages its solid waste operations geographically through three regional operating segments, each providing a comprehensive range of non-hazardous solid waste services. The Eastern, Western, and Mid-Atlantic regions each provide a comprehensive range of non-hazardous solid waste services.
Casella Waste Systems manages its resource renewal operations through the Resource Solutions operating segment, which leverages its core competencies in materials processing, industrial recycling, organics, and resource management services to deliver comprehensive solutions to its commercial, municipal, institutional, and industrial customers.
The $120 Goldman Sachs target price represents a 46% gain.
TPG
This asset management company has been hit hard by industry concerns, yet it pays a sensational 5.31% dividend. TPG (NASDAQ: TPG) is an alternative asset management company. The company invests in a diversified set of strategies, including private equity, impact, credit, real estate, and market solutions.
Goldman Sachs noted that TPG’s shares are down almost 40% YTD amid pressure on the broader alternative asset manager sector, amid concerns that the 15%+ annual growth it has seen over the last 3 years is unsustainable. But analyst Alex Blostein expects base management fee growth of ~20% yoy in both 2026E and 2027E as AUM grows in its flagship private equity (PE) funds, investments in its Credit funds lead to management fee realization, and Real Estate fundraising begins contributing to management fees and fee-related earnings (FRE). All of this should enable FRE margins to expand by 3% this year (and ~1% annually thereafter). His 2027 estimates sit 8% above consensus.
The company consists of six multi-strategy investment platforms:
- The Capital platform focuses on control-oriented private equity investments, and its Capital platform products include TPG Capital, TPG Healthcare Partners, and TPG Asia.
- Its Growth platform products include TPG Growth, TPG Tech Adjacencies, TPG Life Sciences Innovation, TPG Emerging Companies Asia, and TPG Sports.
- The Impact platform products include Rise Funds, Rise Climate, Rise Climate Transition Infrastructure, Rise Climate Global South Initiative, and TPG NEXT.
- Its Credit platform products include TPG Credit Solutions, TPG Direct lending, TPG Asset-Based Finance, TPG CLOs, and TPG Multi-Asset Credit.
The Goldman Sachs price target is $61, with 43% upside potential.
Tyson Foods
With well-known products and a solid business model, this is a strong pick, offering a solid 3.55% dividend. Tyson Foods (NYSE: TSN) is a food company with a portfolio of products and brands that includes Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, State Fair, Aidells, and IBP.
Goldman analyst Leah Jordan is looking for above-consensus earnings growth at the US’s largest protein processor and marketer — driven by its diversified protein portfolio, as well as further margin expansion from ongoing operational improvements, strong demand trends, and generally better execution across the board. Jordan sits 2-3% higher than consensus EPS estimates for FY26/FY27.
Its segments include:
- The Beef segment includes operations related to processing live-fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products.
- The Pork segment includes operations related to processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and case-ready products.
- The Chicken segment includes domestic operations for raising and processing live chickens, purchasing raw materials for fresh, frozen, and value-added chicken products, and selling specialty products.
- The Prepared Foods segment includes operations for manufacturing and marketing frozen and refrigerated food products, as well as logistics to move products through the supply chain.
The Goldman Sachs target price is $81. That represents a strong 33% gain.
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