Goldman Sachs released an update to its conviction lists for both the United States and Europe on 1 September 2026. In the U.S. list, the bank added Vertex Pharmaceuticals and removed Interactive Brokers, leaving the list with 23 names. The U.S. roster also includes Estée Lauder, Wells Fargo, UnitedHealth, Delta Air Lines, ConocoPhillips, Microsoft and Block.
In Europe, Goldman added three names – RWE, Adyen and Talanx – while taking out Enel, Wise, Hannover Re and Zalando. The European list therefore reflects a shift toward utilities and fintech players.
Analyst Salveen Richter, covering Vertex Pharmaceuticals, said the large‑cap biotech is well‑positioned for long‑term growth as it pursues up to five multi‑billion‑dollar opportunities across cystic fibrosis, pain, kidney disease and hematology, and noted a proposed acquisition of Crinetics that would create a fifth pillar in endocrinology.
Analyst Alberto Gandolfi, covering RWE, expects the stock to re‑rate after its transformation from a traditional power generator to a vertically integrated powerhouse following the acquisition of a majority stake in Amprion. He projects roughly 17% EPS growth per year through 2031, sits about 25% ahead of consensus EPS guidance for 2031, and has raised his price target by 6% to a level that implies a 27% upside.
Goldman’s commentary on Adyen highlighted the firm’s technology stack as a key differentiator, placing it 4%‑6% ahead of consensus EBITDA forecasts for 2027‑2029. For Talanx, the bank identified the Retail International division as an under‑appreciated growth driver.
Overall, the refreshed conviction lists signal Goldman Sachs’ current high‑conviction bets across sectors ranging from biotechnology and consumer goods to energy, financial services and fintech, with specific analyst expectations on earnings growth, acquisition synergies and valuation uplift.