With the market in turmoil, Goldman Sachs is recommending stocks that it considers favorably positioned to perform in various broader market circumstances. Wall Street started October on a positive note as the stock market rallied to start the month. But that was juxtaposed with a dismal September, when major indexes slid as investors grew increasingly worried about a potential recession as the Federal Reserve continued to hike interest rates in the purpose of tempering inflation. Either way, Goldman Sachs Vice Chairman Deep Mehta and his team have picked stocks they think they can deliver in all market environments. The bank looked at financial returns, cash returns on cash investments, and debt-adjusted cash flow. Adobe is expected to grow revenue two to three times current levels over the next few years thanks to subscriber growth and pricing adjustments that are expected to drive double-digit revenue growth this year. period. Goldman forecasts a 96% rise by September 30. The software company said it would acquire Figma, the design software maker, in a deal worth around $20 billion in cash and stock in mid-September. Tobacco company Altria Group has particularly strong free cash flow and net price realization with no currency risk, which provides stability when the dollar soars. Goldman also expects gross margins to increase and is confident in the company’s ability to meet earnings per share targets with limited downside risk. It has an expected upside of 44%. Honeywell is also attractive to Goldman because of “a solid execution track record” that leaves it “well positioned given the longer-cycle nature of its portfolio.” The firm said the conglomerate has one of the best balance sheets of the companies it covers. According to Goldman, Honeywell could unlock future revenue by using part of its $29.5 billion backlog to find new areas of growth. It has a 30% increase. With a 59% rise, payment service provider Visa also remains well positioned due to its US focus. Growth in earnings per share is expected in the teens for the foreseeable future as electronic payments become more ubiquitous and the company finds new growth drivers. Visa, along with its competitors, has facilitated billions of dollars in crypto platform-related transactions. — CNBC’s Michael Bloom contributed to this story.
SpaceX launches Falcon 9 rocket on Starlink mission from Kennedy Space Center – Spaceflight Now – Spaceflight Now
A SpaceX Falcon 9 rocket lifts off from the launch pad at Launch Complex 39A, as captured in this footage...
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