In this piece, we look at the 10 Best Stocks to Buy According to Goldman Sachs’ “Conviction List”.
Goldman Sachs’ Conviction List carries weight because it is not meant to be a casual collection of “stocks we sort of like.” It is where the firm places names it sees as especially compelling across its coverage universe, often backed by specific earnings, valuation, capital return, product-cycle, or sector views. For investors, that makes the list a useful starting point, even if it is not a substitute for doing independent research.
The more interesting layer comes from market positioning. A stock can have a strong analyst case and still face heavy short-seller pressure if investors are worried about margins, leverage, execution risk, valuation, or a fading growth story. On the other hand, low short interest can suggest that bears have not built a large visible case against the stock. That does not make the company risk-free. The market is not a monastery of rational monks. But it does mean the bullish case is not fighting an unusually crowded short trade.
That combination makes Goldman’s list especially useful when filtered through short interest. It highlights stocks where institutional conviction is paired with relatively limited bearish positioning, giving investors a cleaner way to look at some of Wall Street’s favored names.
Photo by Akshay Sadarangani on Unsplash
Methodology
To build our list of the 10 Best Stocks to Buy According to Goldman Sachs’ Conviction List, we reviewed publicly available Goldman Sachs Conviction List picks and screened them by short interest as a percentage of float. We then ranked the stocks in descending order of short float.
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10. DoorDash, Inc. (NASDAQ:DASH)
Short Percentage of Float: 3.42%
DoorDash, Inc. (NASDAQ:DASH) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added the stock to its U.S. Conviction List on February 2, saying the company was well-positioned both cyclically and secularly into 2026, with revenue growth supported by a healthy consumer. The firm kept its Buy rating on May 7, though it trimmed its price target to $280 from $286 after DoorDash’s Q1 report. Goldman pointed to platform growth, tech-stack improvements, advertising strength, and an outlook where 2026 EBITDA is expected to grow slightly faster than gross order value, excluding Deliveroo.
DoorDash’s latest numbers give that view some backing. On May 6, the company said Q1 2026 Marketplace GOV rose 37% year-over-year, or 24% excluding Deliveroo, while revenue increased 33%, or 21% excluding Deliveroo. The company also highlighted stronger U.S. restaurant engagement, growth in grocery and retail, faster DashPass member growth, and early progress in integrating Deliveroo and its broader global technology platform. DoorDash guided for Q2 2026 Marketplace GOV of $32.4 billion to $33.4 billion and adjusted EBITDA of $770 million to $870 million.
DoorDash, Inc. (NASDAQ:DASH) is a local commerce platform that connects consumers with restaurants, grocers, retailers, and other merchants, while also providing logistics, membership, advertising, and merchant tools across more than 30 countries.
9. UnitedHealth Group Incorporated (NYSE:UNH)
Short Percentage of Float: 2.16%
UnitedHealth Group Incorporated (NYSE:UNH) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added UnitedHealth to its U.S. Conviction List on May 1, alongside Interactive Brokers, while removing Abbott Laboratories and Keysight Technologies. The firm said its conviction lists highlight stocks it views favorably for investment, and UnitedHealth’s inclusion followed Goldman’s April 22 move to raise its price target to $435 from $400 while maintaining a Buy rating. Goldman cited the company’s first-quarter performance, higher full-year guidance, and a turnaround still in its early stages.
The case is not frictionless because UnitedHealth is still working through medical cost pressures, scrutiny of its insurance practices, and a federal probe into its government-backed plans. Reuters reported on May 18 that the stock dipped after Berkshire Hathaway exited its stake, though analysts quoted by Reuters said the operational recovery still appeared to be moving in the right direction. On April 21, UnitedHealth reported Q1 2026 revenue of $111.7 billion, up 2% year-over-year, adjusted earnings of $7.23 per share, and raised its full-year adjusted earnings outlook to more than $18.25 per share.
UnitedHealth Group Incorporated (NYSE:UNH) is a health care and well-being company operating through UnitedHealthcare and Optum, serving consumers, care providers, employers, governments, and health systems.
8. ConocoPhillips (NYSE:COP)
Short Percentage of Float: 1.98%
ConocoPhillips (NYSE:COP) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added the stock to its U.S. Conviction List in March, with Business Insider reporting that the firm viewed ConocoPhillips as favorably positioned amid energy price volatility and expected the company’s major projects to support a period of lower capital spending and stronger free cash flow. Goldman also pointed to about 10% upside at the time, making the call more of a cash-generation story than a simple oil-price bet.
Recent developments have kept that angle alive. On May 18, Reuters reported that Glenfarne’s Alaska LNG project secured a 30-year natural gas supply agreement with ConocoPhillips, helping support a final investment decision for the project’s first phase, a 739-mile pipeline from Alaska’s North Slope. On May 19, Reuters also reported that ConocoPhillips expected delays at its Qatar LNG joint ventures to be measured in months rather than years, despite disruption tied to strikes at Ras Laffan and the broader Iran war impact.
ConocoPhillips’ Q1 update added a capital-return layer, with the company reporting $1.89 in adjusted EPS, $5.4 billion in cash from operations, and a second-quarter ordinary dividend of $0.84 per share.
ConocoPhillips (NYSE:COP) is one of the world’s largest independent exploration and production companies based on production and proved reserves.
7. Celestica Inc. (NYSE:CLS)
Short Percentage of Float: 1.92%
Celestica Inc. (NYSE:CLS) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added Celestica to its U.S. Conviction List in December, saying the company was positioned to benefit from continued spending growth by hyperscale and other large AI customers. The firm had a Buy rating on the shares with a $440 price target at the time.
The AI infrastructure angle has since gained more company-level support. On April 27, Celestica reported Q1 2026 revenue of $4.05 billion, up 53% year-over-year, and adjusted EPS of $2.16, compared with $1.20 a year earlier. Its Connectivity & Cloud Solutions segment revenue rose 76% to $3.24 billion, while Hardware Platform Solutions revenue increased 63% to about $1.7 billion. Celestica also raised its 2026 outlook to $19.0 billion in revenue and $10.15 in adjusted EPS, up from prior expectations of $17.0 billion and $8.75.
The company also said it received a hyperscaler program award for a co-packaged optics Ethernet switch optimized for AI scale-out networks, with production expected to start ramping in 2027. That gives the Goldman thesis a fresh product-cycle tailwind rather than just “AI demand” soup poured over the stock.
Celestica Inc. (NYSE:CLS) provides design, manufacturing, hardware platform, and supply chain solutions for global technology companies.
6. Duke Energy Corporation (NYSE:DUK)
Short Percentage of Float: 1.86%
Duke Energy Corporation (NYSE:DUK) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added Duke Energy to its U.S. Conviction List in July 2025, with a Buy rating and a $132 price target. The firm pointed to regulatory progress in key markets and the company’s efforts to expand generation capacity, including through its partnership with GE Vernova for natural gas turbines.
The utility case has since become more tied to rising power demand from data centers and industrial growth. On May 5, Reuters reported that Duke Energy beat first-quarter 2026 profit and revenue estimates, helped by favorable weather and recovery of rate-based infrastructure investments. Revenue rose to $9.17 billion from $8.25 billion a year earlier, while adjusted EPS came in at $1.93, above analyst expectations. Reuters also reported that Duke had signed electric service agreements for 7.6 gigawatts of new data center demand since 2024, including 2.7 gigawatts added in Q1 alone.
On May 11, Duke Energy said it applied for Department of Energy loans to support grid and capacity investments while potentially lowering customer financing costs. The company said it serves 8.7 million electric customers and owns 55,700 megawatts of energy capacity.
Duke Energy Corporation (NYSE:DUK) is one of America’s largest energy holding companies, operating electric and natural gas utilities across several U.S. states.
While we acknowledge the potential of DUK to grow, our conviction lies in the belief that some other AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DUK and that has 100x upside potential, check out our report about the cheapest AI stock.
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