Goldman Sachs added four new stocks to its conviction list going into August for equity investors looking to capitalize on the bull market. Introduced in June, Goldman’s new “Conviction List – Directors’ Cut” curates 20 to 25 of the firm’s most differentiated fundamental buy-rated ideas across its U.S. stock coverage. Dollar General , Philip Morris International , S & P Global and Woodward were the newest additions to the Wall Street firm’s coveted stock list. For Dollar General, Goldman analysts believe the worries around low-income consumer discretionary spend and competition are overdone. Meanwhile, Goldman said the market is underappreciating the growth opportunity for Philip Morris as the company innovates around its smoke-free alternatives to cigarettes. Dollar General shares have fallen more than 11% since the start of the year, but Philip Morris stock has been gaining momentum and is up more than 22% in 2024, with a 14% jump over the past month. Goldman also said S & P Global is “well-positioned” to continue to benefit from a strong debt issuance business, while Woodward is expected to deliver more products to plants under a relatively new management team, the firm said. Both S & P Global and Woodward have recorded solid gains so far this year, rising 11% and nearly 17%, respectively. The conviction list also included Royal Caribbean , Ally Financial , Citigroup, Amazon and Nvidia .
