Buy These 2 Beaten-Down Stocks, Goldman Sachs Says, Forecasting up to 130% Upside

The Federal Reserve might have completed its round of rate hikes, based on recent statements made by the agency’s officials. Those statements conveyed the message that there is presently no urgent necessity to push the Fed funds rate beyond its existing range of 5.25 to 5.50% – the highest level since July 2001.

A number of Fed officials pointed to the surge in government bond yields as a sign that the economy is slowing down sufficiently to curb inflation without necessitating further intervention from the Fed.

“I actually don’t think we need to increase rates any more,” Atlanta Fed President Raphael Bostic opined. “I think we are at a good place in that regard.”

If that is the case, that could be good news for the stock market, and the task for investors is to identify the stocks worth leaning into in this setting. But which strategy can help investors find the stocks poised to blast off on an upward trajectory? One approach is to sift through stocks that have received recommendations from analysts at prominent financial institutions, such as the financial powerhouse, Goldman Sachs.

The analysts at the banking giant see an opportunity in two names that have recently experienced a downturn but are expected to have better days ahead, with a potential upside of up to 130%. For a fuller picture of their prospects, we also ran these names via the TipRanks database. Here are the details.

Geron Corporation (GERN)

Let’s first head to the biotech space and take a look at Geron, a late-stage clinical biopharma company primarily focused on developing innovative therapeutics for the treatment of blood cancers. Geron has gained significant attention and recognition for its pioneering work in the field of telomere biology. Researchers at Geron introduced an innovative method involving oligonucleotides, which are brief, synthetic DNA or RNA strands, to impede the functioning of telomerase, an enzyme responsible for preserving telomeres and facilitating the ongoing growth of cancerous cells.

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