Goldman Sachs Updates High-Confidence Buy List, Adds Vertex Pharmaceuticals

According to潮向 Research, a Goldman Sachs report dated September 1 noted that the U.S. High-Confidence List was updated this month, with Vertex Pharmaceuticals added and Interactive Brokers Group removed, maintaining a total of 23 stocks. All of August’s U.S. equity gains were concentrated in the first two trading days, after which markets entered a summer consolidation phase, with NVIDIA’s strong earnings failing to break the stalemate. The 10-year Treasury yield rose 9 basis points from the start of the month, Brent crude remained largely flat, while gold, silver, and Bitcoin rose 9%, 22%, and 24%, respectively. Vertex was the standout of the month; Goldman Sachs identifies five billion-dollar commercial opportunities for the company: cystic fibrosis, pain, kidney disease, hematology, and endocrinology via its planned acquisition of Crinetics. Market expectations for the peak sales of povetacicept in IgAN ($3.2 billion) are significantly below Goldman Sachs’ estimate ($5.8 billion). Estée Lauder and DoorDash performed strongly in August, rising 5.3% and 18.1%, respectively. TPG raised its FRE expectations by approximately 10% following a robust second quarter. Viking Holdings and Applied Materials came under pressure due to overly high expectations. The list is based on bottom-up fundamental analysis and covers six sectors: consumer, financials, healthcare, industrials, resources, and technology.