Three new stocks have made it onto Goldman Sachs’ coveted conviction list. The Wall Street firm has a “directors’ cut” conviction list comprising 20 to 25 stocks of what it believes to be its most differentiated fundamental buy ideas across its coverage universe in the U.S. Baxter Goldman added health-care name Baxter to the list, seeing a turnaround in the stock after a long period of underperformance. Analyst David Roman said the stock typically beats the market when the company focuses on optimizing the profits of its existing industrial health-care footprint rather than looking to expand, and he sees now as a time for optimization. Shares have rallied more than 20% this year after a 24% loss in 2024. BAX YTD mountain Baxter Deere Deere , the world’s largest farm equipment maker, was also strongly favored by Goldman. Last month, Deere reported that its quarterly revenue dropped 35% as more farmers retained their aging equipment or switched to rentals due to weak incomes and high borrowing costs. Goldman analyst Jerry Revich said he is looking for a positive inflection in earnings as the company approaches a cyclical bottom for ag equipment inventory. Shares of Deere have gained more than 12% in 2025. DE YTD mountain Deere Viper Energy Also added to Goldman’s conviction list was Viper Energy , which owns and acquires mineral and royalty interests in oil and natural gas properties. Analyst Neil Mehta said he is bullish on the company’s “unique no capex business model,” and he sees the stock as a “compelling” way to get exposure to the Permian Basin. Shares of Viper Energy are down about 2% this year after a 56% rally in 2024. VNOM YTD mountain Viper Energy
