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    Home » Goldman Sachs says these stocks could see strong 2023 earnings growth
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    Goldman Sachs says these stocks could see strong 2023 earnings growth

    AdmincryptBy AdmincryptJanuary 5, 2023No Comments2 Mins Read
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    The S & P 500 in 2023 is unlikely to fully recover from its 18% drop in 2022, according to Goldman Sachs. The bank is anticipating zero earnings growth to drive a modest or flat return for the year, in a soft landing scenario, or if the Federal Reserve can reduce inflation and slow the economy without tipping it into a recession, Goldman’s chief U.S. equity strategist David Kostin said in a note Wednesday. “Our valuation model implies the P/E multiple will remain unchanged at 17x and the index will end the year at 4000,” he said in the report. With that, Goldman shared several names its analysts expect will show above-average earnings growth this year. Here are 10 of the names: The consumer discretionary sector shows the biggest promise for earnings growth – Goldman notes a projected 20% – followed by financial stocks, which are set to grow earnings 12%. T-Mobile tops the list for the fastest projected earnings growth, at 239% in 2023. The cellular phone service is somewhat of a darling on Wall Street to start the year. It also turned up on a CNBC Pro list of low-volatility stocks rated buy by a majority of analysts who cover the company. This week Citigroup also called it a defensive pick with “strong operating momentum and opportunity to realize merger-related synergies.” Investors should expect strong earnings from Tesla too, according to Goldman, despite the stock’s poor start to the year. The electric vehicle maker Monday reported weaker-than-expected fourth quarter, sending shares tumbling. But the decline has caught the eye of others on Wall Street given the company’s growth prospects. Disney is another company appearing this week on analysts’ top picks for the new year. After falling 44% in 2022, analysts are optimistic about CEO Bob Iger’s return. Goldman sees the media and theme park company growing earnings 35% this year.



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