Goldman Sachs Identifies 10 Energy Stocks with an Average Return Potential of 27% by 2026

According to Chaoxiang Research, a Goldman Sachs report dated October 8, 2026, selected ten energy and power stocks with an average total return potential of 27%, all rated as Buy. The covered companies include ConocoPhillips, Occidental Petroleum, Permian Resources, Quanta Services, Duke Energy, Baker Hughes, Gol LNG, HF Sinclair, TC Energy, and Antero Resources. Target prices and total returns are based on the closing price as of October 7, 2026. Goldman Sachs believes that data center demand is driving the power sector: Duke Energy has a data center pipeline of 15.4 GW, and Quanta Services is expected to achieve a compound annual revenue growth rate of approximately 15% through 2030. In LNG, Gol LNG is projected to generate approximately $1.2 billion in EBITDA from operational capacity by 2030, with each MKII vessel adding about $400 million. Oil and gas exploration and production benefit from a free cash flow inflection point, while refining profit forecasts have upside potential. Fourth-quarter catalysts include ConocoPhillips’ Willow project, Duke Energy’s raised guidance, and Gol LNG’s fourth vessel contract.