Goldman Sachs believes the U.S. economy is poised to snap back and certain stocks could have the most upside from the economic recovery.
Cyclical stocks, those typically tied to economic growth, have led the record-setting rally in the past three months. While the S&P 500 surged about 8% during the period, cyclical stocks have outperformed their defensive counterparts, returning 12%, Goldman said. The bank predicts the leadership will persist on the back of a rebound in U.S. economy.
"The equity market is anticipating an acceleration in US economic growth during the coming months," David Kostin, Goldman's chief U.S. equity, said in a note on Friday. "Investors who want to capture further cyclical upside can improve risk-reward by narrowing their focus to select cyclical stocks." Goldman screened Russell 1000 stocks for names with high economic sensitivity but still-depressed valuations. The bank found 24 stocks that could outperform the market and other cyclicals if economic growth continues to improve. These stocks include
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