Goldman Sachs Suggests Buying These 2 Stocks Now for Growth

Conventional wisdom dictates that a US recession is imminent, either during the second half of this year or the first half of the next. But just how much should we credit that? While there are economic headwinds in play, we should also remember that the pace of inflation is easing, unemployment remains low, and the second quarter earnings season showed a high proportion of surprises to the upside.

If it’s not a completely rosy picture, it’s far from doom and gloom. And in the eyes of Goldman Sachs equity strategist David Kostin, it’s a sign that the US may be ready for a rebound.

Laying out his case, Kostin writes, “Resilient US economic growth, which is the primary variable in our sales model, should support S&P 500 revenue growth in 2023. Goldman Sachs economists forecast 2.1% real US GDP growth in 2023 compared with the consensus estimate of 1.6% growth, which partly explains our above-consensus sales growth forecast. Our economists assign just a 20% probability that the US economy enters a recession during the next 12 months, compared to the median forecaster’s 54% probability.”

Riding on this positive sentiment of growth potential, the Goldman Sachs analysts have been upgrading the ratings for several stocks recently. Here are the details on two of their picks, drawn from the TipRanks platform, along with the analysts’ comments.

Teledyne Technologies (TDY)

The first company we’ll look at is Teledyne, an engineering firm involved in the creation and production of enabling technologies for industrial growth markets. The company produces a wide range of products, including digital imaging sensors, broad-spectrum camera systems, monitoring and control instrumentation, aircraft information management systems, and electronic and satellite communication systems.

The company operates in four divisions – instrumentation, digital imaging, engineered systems, and aerospace & defense electronics – and its product lines have found their way into a multitude of applications. Teledyne is based in California, but also has operations in Canada, the UK, and…


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