Goldman Adds Amazon to Top Picks, Ditches ConocoPhillips

Goldman Sachs has updated its monthly Director's Cut list of choice equities, adding five new stocks and removing five others from the curated selection. The firm added Amazon (), Burlington Stores (), Huntington Ingalls (), Johnson Controls (), and Occidental Petroleum () to the list. Meanwhile, ConocoPhillips () was removed despite delivering a 36.6% return year-to-date and maintaining a market cap of $150.4 billion with a 2.68% dividend yield.

According to InvestingPro, ConocoPhillips appears undervalued with a Fair Value 23% above current levels. Investors can access detailed analysis through COP's comprehensive Pro Research Report, available for this and 1,400+ other US equities. The Director's Cut list highlights 20-25 fundamental Buy-rated U.S. stocks selected by Goldman's Investment Review Committee from across the firm's Americas Global Investment Research department.

The committee includes the Americas Director of Research and senior research managers. Goldman launched the list on June 1, 2023, as a conviction list designed to provide investors with what the firm views as its most differentiated fundamental Buy ideas. The list is refreshed and published monthly.