Goldman Sachs Raising Price Targets on 4 Stocks That Could Explode Higher

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Founded in 1869, Goldman Sachs is the world’s second-largest investment bank by revenue and is ranked 55th on the Fortune 500 list of the largest U.S. corporations by total revenue. The Wall Street white-glove giant offers financing, advisory services, risk distribution, and hedging for the firm’s institutional and corporate clients. In addition, it provides advice, investing, and execution for institutions and individuals across public and private markets.

It is always a good sign when the Goldman Sachs team starts raising price targets on Buy-rated companies. Typically, when a stock has been performing well and its target price is increased, it usually means that analysts are optimistic about what they see six to 12 months ahead. When we see significant price increases of 10% or more, we share this with our readers. Here are four that look like outstanding ideas for growth and income investors.

Why we recommend Goldman Sachs stocks

Goldman Sachs is one of the acknowledged leaders in the investment landscape on Wall Street and worldwide. The firm’s top-notch research department continues to provide clients with the best ideas across the investment spectrum and is likely to maintain this standard for years to come.

This off-the-radar technology play is one of the biggest companies in its industry. Amphenol Corp. (NYSE: APH) is a designer, manufacturer, and marketer of electrical, electronic, and fiber optic connectors and interconnect systems, antennas, sensors, and sensor-based products, and coaxial and high-speed specialty cables. The company operates through three segments.

The Harsh Environment Solutions segment designs, manufactures, and markets a range of ruggedized interconnect products and other products for use in these and additional markets:

• Industrial
• Defense
• Commercial aerospace
• Automotive
• Mobile networks
• Medical

Its Communications Solutions segment designs, manufactures, and markets a range of connector and interconnect systems for use in the information technology and data communications, mobile devices, industrial, mobile networks, broadband communications, automotive, commercial aerospace, and defense end markets.

Amphenol’s Interconnect and Sensor Systems segment designs, manufactures, and markets a range of sensors, sensor-based systems, connectors, and value-added interconnect systems.

The Goldman Sachs price target for the stock rose to $115 from $102.

Belden

This is another side-swipe technology play from an industry leader, priced for a significant move higher. Belden Inc. (NYSE: BDC) is a global supplier of complete connection solutions.

The company’s Smart Infrastructure Solutions segment is a provider of network infrastructure and broadband solutions, as well as cabling and connectivity solutions for commercial audio/video and security applications.

Its vertical markets include data centers, government, healthcare, and hospitality.

Broadband Solutions primarily serves broadband and wireless service providers.

Smart Infrastructure Solutions product lines include:

• Copper cable and connectivity solutions
• Fiber cable and connectivity solutions
• Interconnect panels
• Racks and enclosures
• Secure, high-performance signal extension and matrix switching systems

Belden’s Automation Solutions segment offers network infrastructure and digitization solutions, enabling customers to make informed, data-driven business decisions. Its primary markets include discrete automation, process automation, energy, and mass transit.

Goldman Sachs has increased its $120 price target to $135.

Borg Warner

This company is a major player in the automotive and electric vehicle industry and may have the biggest upside potential. BorgWarner Inc. (NYSE: BWA) engages in clean technology solutions for combustion, hybrid, and electric vehicles.

The company operates in four segments:

• The Turbos & Thermal Technologies’ technologies include turbochargers, e-boosters, e-turbos, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, and powertrain sensors, among others.
• The Drivetrain & Morse Systems segment’s products include control modules, friction and mechanical clutch products for automatic transmissions, torque-management products, and rear-wheel drive (RWD) and all-wheel drive (AWD) transfer case systems and coupling systems.
• The PowerDrive Systems segment’s products include power electronics such as inverters, onboard chargers, DC/DC converters, and combination boxes, and others
• The Battery & Charging Systems segment’s products include lithium-ion battery systems for electrified bus, truck, and off-highway applications and DC fast chargers suitable for all types of electric vehicles

The Goldman Sachs price target increased to $40 from $36.

Jabil Circuit

Last but not least, this is yet another great idea for those looking to invest in technology infrastructure plays. Jabil Inc. (NYSE: JBL) provides comprehensive engineering, manufacturing, and supply chain solutions.

The company provides comprehensive electronics design, production, and product management services to companies in various industries and end markets.

Jabil’s Regulated Industries segment focuses on regulated markets, generating revenues from customers primarily in the automotive and transportation, healthcare, packaging, and renewable energy infrastructure industries.

Its Intelligent Infrastructure segment is focused on the modern digital ecosystem, including artificial intelligence (AI) infrastructure, and includes revenues from customers primarily in these industries:

• Capital equipment
• Cloud and data center infrastructure
• Networking and communications

The Connected Living and Digital Commerce segment is focused on digitalization and automation, including warehouse automation and robotics. Jabil is also engaged in drug development and manufacturing solutions.

The Goldman Sachs price target for the stock increased to $237 from $215.

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