Goldman Sachs September "Conviction List" Update: US stocks include Vertex Pharmaceuticals (VRTX.US); top picks for European stocks are Rhein, Adyen, and Talanx

According to the Zhihong Finance APP, as autumn arrives, Goldman Sachs has updated its "Conviction List" for the US and European markets, providing investors with guidance on stocks that are currently the most favored. In this adjustment, a large biotech stock has been newly added to the US list, while three new names have joined the European list.

US List: Vertex Pharmaceuticals Added, Interactive Brokers Removed

In the US market, Goldman Sachs included Vertex Pharmaceuticals (VRTX.US) on the Conviction List and removed Interactive Brokers (IBKR.US). After the adjustment, the list retains 23 stocks.

Analyst Salveen Richter believes that Vertex Pharmaceuticals, a major biotechnology company, "has a solid foundation for long-term growth as it is capturing opportunities worth potentially several billion dollars across as many as five areas," including cystic fibrosis, pain treatment, kidney disease, and hematology. Additionally, the proposed acquisition of Crinetics (CRNX.US) will further strengthen its fifth key pillar in endocrinology.

Other stocks on the US market list include Estée Lauder (EL.US), Wells Fargo (WFC.US), UnitedHealth (UNH.US), Delta Air Lines (DAL.US), ConocoPhillips (COP.US), Microsoft (MSFT.US), and Block (XYZ.US).

European List: Rhein, Adyen and Talanx Added, Four Stocks Removed

In the European market, Goldman Sachs has added German energy giant Rhein, Dutch payment company Adyen, and German insurance company Talanx. At the same time, it removed Enel, the Italian national power company, UK remittance platform Wise, Hannover Reinsurance, and German e-commerce platform Zalando.

Analyst Alberto Gandolfi stated that Rhein, after acquiring a majority stake in Amprion, is transitioning "from a power producer to a vertically integrated energy giant," and its stock is likely to experience a valuation reappraisal. Gandolfi's forecast for 2031 earnings per share is about 25% higher than both company guidance and market consensus, with an estimated average annual growth rate of around 17% until 2031. He raised the target price by 6%, maintained a "Buy" rating, and sees a potential upside of 27%.

Goldman Sachs believes Adyen's technology stack remains a key differentiator, with its forecast for Adyen's 2027–2029 EBITDA 4% to 6% higher than the market consensus. The firm also stated that Talanx’s international retail business is an underestimated growth engine.