Founded in 1869, Goldman Sachs is the world’s second-largest investment bank by revenue and ranks 55th 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. In addition, it provides advice, investing, and execution for institutions and individuals across public and private markets.
It is always a good sign when the Goldman Sachs team starts raising price targets on Buy-rated companies. Typically, when a stock has been performing well, and its target price is raised, it usually means analysts are optimistic about what they see six to 12 months ahead. When we see significant price increases of 10% or more, it is time to share this with our readers. Here are three that appear to be outstanding growth stock ideas for investors seeking solid opportunities.
Why we recommend Goldman Sachs stocks
Goldman Sachs is the acknowledged leader in the investment landscape on Wall Street and worldwide. The firm’s top-notch research department continues to deliver the best ideas across the investment spectrum and is likely to do so for years to come.
Analog Devices
This tech giant offers a solid entry point for growth stock enthusiasts. Analog Devices (NYSE: ADI | ADI Price Prediction) is a global semiconductor company that designs, manufactures, tests, and markets a portfolio of solutions, including integrated circuits (ICs), software, and subsystems that leverage high-performance analog, mixed-signal, and digital signal processing technologies.
Its comprehensive product portfolio, domain specialization, and manufacturing capabilities extend across high-performance precision and high-speed mixed-signal, power management, and processing technologies, including:
- Data converters
- Amplifiers
- Power management
- Radio frequency (RF) ICs
- Edge processors
- Sensors
The company’s IC product portfolio includes both general-purpose products used by a range of customers and applications, as well as application-specific products designed for specific target markets. Its analog ICs monitor, condition, amplify, or transform continuous analog signals associated with physical properties, such as temperature, pressure, weight, light, sound, or motion.
The $300 Goldman Sachs price target was raised to $370.
Applied Materials
This legacy semiconductor capital equipment giant has been on fire and still pays a small o.54% dividend. Applied Materials (NASDAQ: AMAT) is a materials engineering solution company that provides equipment, services, and software to the semiconductor, display, and related industries. It operates in three segments.
The Semiconductor Systems segment designs, develops, manufactures, and sells a range of primarily 300 mm equipment used to fabricate semiconductor chips, also referred to as ICs.
The Applied Global Services segment provides services, spare parts, and factory automation software to customer fabrication plants worldwide. This segment also manufactures and sells 200mm and other equipment.
The Display segment primarily comprises products for manufacturing liquid crystal displays (LCDs), organic light-emitting diodes (OLEDs), and other display technologies for televisions, monitors, laptops, personal computers, tablets, smartphones, and other consumer devices.
The Goldman Sachs price target increased from $310 to $390.
Arista Networks
This stock may offer investors the best entry point and ultimately the biggest upside potential. Arista Networks (NASDAQ: ANET) is a provider of data-driven, client-to-cloud networking for large artificial intelligence (AI), data center, campus, and routing environments.
The company’s platforms deliver availability, agility, automation, analytics, and security through an advanced network operating stack. It’s an Extensible Operating System (EOS), a modernized publish-subscribe state-sharing networking operating system. The portfolio of products, services, and technologies is grouped into various categories:
- Core (Data Center, Cloud, and AI Networking)
- Cognitive Adjacencies (Campus and Routing)
- Cognitive Network (Software and Services)
Arista Networks offers a portfolio of high-speed, data-driven Ethernet switches for cloud and data center environments. Its Cognitive Adjacencies include Cognitive Campus Switching, Cloud-Grade Routing, and WAN Routing. Its software and services are subscription-based and include offerings such as CloudVision, Arista A-Care Services, CloudEOS, and others.
Goldman Sachs raised its $165 price target to $188.
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