8:03:27 AM PDT - Monday, March 30th, 2020

Goldman Sachs: 3 Tech Stocks That Could Climb Over 20%  

By Editor - Wed Mar 25, 8:17 pm

Investment firm Goldman Sachs has revised its 2020 economic forecast, and the outlook is decidedly grim. Where just 10 days ago, Goldman was predicting that GDP would experience a 5% contraction in Q2, the update puts the forecast at a 24% second-quarter contraction. That’s a depression-style number, and Goldman does not sugar-coat it.What the bank does do, however, is to try and extend its reading into 2H20, and looking forward the chances may not be as bad. The economy was strong as 2019 ended, and even in January and February the jobs numbers remained highly positive – and Goldman sees that underlying strength coming back in the second half. The bank predicts a sharp rebound in the third and fourth quarters, with growth hitting 12% in Q3 and 10% in Q4. Investors should expect, however, an economic contraction for the full year.Goldman doesn’t leave their forecasts at the macro level. In a report on COVID-19’s impact on the tech sector, analyst Brian Essex adjusts his outlook on an array of stocks, in an attempt to sort the wheat from the chaff. Of the potential growth stocks, positioned to expand despite the developing recession, Essex says, “We generally prefer companies with subscription and recurring revenue models which provide durable revenue and a high degree of visibility

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Goldman Sachs: 3 Tech Stocks That Could Climb Over 20%

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