Goldman Sachs names 3 'conviction list' stocks that could profit from efforts to go green
Investing in sustainability is often a matter of ethics — but it need not come at the expense of profit. In fact, some companies doing more of that are showing "attractive corporate returns," according to Goldman Sachs. And the investment bank said it believes they will attract more investors. Stocks identified as "Green Capex Improvers" and "Green Revenue Improvers" beat their sectors by nearly 21% and 15% respectively, Goldman said in a Dec. 7 report.
"We see Mercedes-Benz's initiatives in EVs as potential catalysts that could warrant greater recognition in ESG funds," the bank wrote. The majority of analysts elsewhere covering the stock gave it a buy rating, with an average upside to price target of about 28%, according to FactSet.
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