myGrilloCOM | Goldman Sachs just refreshed its conviction lists of global stocks

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Goldman Sachs has refreshed its lists of top global stock picks for September, adding some and removing others. The stocks are featured in the investment bank’s “Conviction List – Directors’ Cut,” which aims to offer investors a “curated and active” list of 15 to 25 buy-rated stocks. Stocks on the list are selected by a subcommittee designated by the bank’s Investment Review Committee for each region. “The subcommittee will collaborate with each sector analyst to identify top ideas that offer a combination of conviction, a differentiated view and high risk-adjusted returns,” Goldman Sachs said. Here are three of the latest additions to Goldman’s directors’ cut lists — for Asia-Pacific and Europe — that were given more than 30% upside potential in the next 12 months. Contemporary Amperex Technology Co Goldman is bullish on Chinese battery player Contemporary Amperex Technology Co, or CATL . The bank said the country’s battery sector is at a “positive inflection point,” citing “sustainable global battery demand” as a favorable condition for the company. The bank’s analyst Eric Shen expects the company’s earnings per share to grow at a compound average growth rate (CAGR) of 25% between 2024 and 2030 on the back of differentiated battery products. Shares in CATL are listed on the Shenzhen Stock Exchange and are traded in the Amplify Lithium & Battery Technology ETF (6.8% weighting) and KraneShares MSCI China Clean Technology Index ETF (6.6%). Year-to-date, its shares are up around 14.6%. Goldman has a 12-month target price of 307 Chinese yuan ($43.16)on the stock, implying around 64% potential upside. Sumitomo Mitsui Financial Group Japanese bank Sumitomo Mitsui Financial Group was another stock that made Goldman’s list. The bank’s analyst Makoto Kuroda likes the company as it “continues to see tailwinds from (1) renewed growth and interest rate normalization in Japan, (2) improvement in corporate governance and [return on equity], and (3) good profit momentum.” She’s optimistic about the company “given prospects for strong earnings and share buybacks” and valuations that are “attractive,” she added in the bank’s Sept. 3 note on its Asia list. Shares in SMFG have been on the downtrend but are up nearly 37% year-to-date. Its shares trade on the Tokyo Stock Exchange and as an American Depositary Receipt (ADR) in the U.S. Goldman has a target price of 13,600 Japanese yen ($93.82) on the stock, implying nearly 45% potential upside. Glencore Also on Goldman’s list is Swiss commodity trading and mining company Glencore . In analyst Matt Greene’s view, the stock stands to gain from an “attractive copper price outlook on a widening commodity deficit driven by increased demand from the energy transition as well as supply disruptions,” according to a Sept. 3 note on the bank’s Europe list. “Glencore has one of the more attractive copper growth profiles in his coverage (7% CAGR 2025-2028E) driven by lower-risk and lower capital-intensive brownfield options within its portfolio,” Goldman said. Shares in Glencore trade on the London Stock Exchange and as an ADR in the U.S. year-to-date its shares are down nearly 20% Goldman has a target price of 520 British pence ($6.82) on the stock, implying around 37.2% potential upside. — CNBC’s Michael Bloom contributed to this report.