The market has been dominated by tech giants in 2024, but Goldman Sachs sees promise in companies other than typical players. Sharmin Mossavar-Rahmani, head of their investment strategy group, believes there’s room for strong returns despite the narrow focus.
Goldman Sachs even revised their recession forecast to a more optimistic 20%, bullish on the overall market. This translates to specific stock picks, and two caught their eye: Amylyx Pharmaceuticals and Informatica.
Amylyx Pharmaceuticals: Solving Neglected Medical Needs
The first stock Goldman Sachs highlights is Amylyx Pharmaceuticals (AMLX: NSD). This biotech company focuses on developing treatments for neurodegenerative diseases, a space with significant unmet medical needs. Goldman Sachs analysts view this focus as a key driver of future growth for Amylyx.
Informatica: Capitalizing on the Power of Data
The second company on Goldman Sachs’ radar is Informatica Inc (INFA: NYE). This Silicon Valley software firm specializes in enterprise cloud data management, a field crucial in today’s data-driven world. Informatica leverages AI for data management and integration, a major selling point for Goldman Sachs. They believe Informatica is well-positioned to capitalize on the ongoing trend of data-driven digital transformation.
Strong Analyst Consensus:
Interestingly, both Amylyx Pharmaceuticals and Informatica receive “Strong Buy” ratings from the analyst consensus on Stock Target Advisor, a financial data aggregator. This alignment between Goldman Sachs and the broader analyst community strengthens the case for these potential breakout stocks.
Bottom Line:
It’s important to remember that stock market predictions are inherently uncertain. While Goldman Sachs offers a positive outlook for these two stocks, investors should always conduct their own research before making any investment decisions.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
