Goldman Sachs adds ANTA Sports, HKEX, Thai Oil, Qantas, and Elite Material to top stocks list

From Investing.com: 2024-06-03 01:27:35

Goldman Sachs analysts added ANTA Sports, HKEX, Thai Oil, Qantas, and Elite Material to their favored stocks list for 2024 in the Asia Pacific region. They cited factors like improving Chinese consumer demand, clean energy transition, and artificial intelligence as tailwinds for these companies.

ANTA Sports is set to benefit from improving consumer demand and its multi-brand strategy to capture mass-market demand. HKEX is expected to see improved earnings from a recovery in cash market trading value and policy support widening the Connect program with the mainland.

Thai Oil is forecasted to have stronger earnings from its clean fuel project, increasing capacity and refining margins, leading to potentially improved shareholder returns. Qantas is expected to catch up in valuation as earnings recover post-COVID and show signs of shareholder returns and fleet upgrades.

Elite Material in Taiwan is likely to benefit greatly from the AI server market with its high exposure, quality products, and mass production capabilities. On the contrary, GS removed HYBE, Mitsubishi UFJ Financial Group, and Shenzhou International from the list due to underperformance.



Read more at Investing.com: Goldman Sachs adds these stocks to its 2024 APAC “conviction list” By Investing.com