Goldman Sachs Puts Its ‘Conviction Buy’ Stamp Of Approval On These 3 Stocks

BlackRock, Inc. (NYSE:BLK) was recently upgraded by both Credit Suisse (coincidentally enough), which raised its rating to ‘Buy’ and set a price target of $362 on the stock, as well as by Gabelli & Co, which upgraded the $50.94 billion investment management firm to ‘Outperform’ from ‘Neutral’ and set a price target of $382. Shares of BlackRock have slumped by nearly 13% so far this year and are currently trading at a forward earnings multiple of 13.85, which certainly could be improved. Hedge fund sentiment surrounding BlackRock has remained stable during the second quarter. At the end of June, 35 funds had an aggregate investment of $443.47 million in the company. Phill Gross and Robert Atchinson‘s Adage Capital Management increased its stake in BlackRock, Inc. (NYSE:BLK) by 1% during the June quarter to 196,280 shares valued at $67.91 million.

Goldman Sachs’ analyst Mark Wiseman noted that the uncertainty around InterOil Corporation (USA) (IOC)’s resource size is overplayed in the market, as bull scenarios could provide a 95%-to-105% upside, while the bearish outcome has a downside of only 15%-to-25% in comparison. So far this year InterOil’s stock price has slumped by almost 26%. Hedge funds were also bullish on this company during the second quarter, as a total of 17 funds had an aggregate investment of $215.02 million in the company at the end of June, up from 13 funds with just under $100 million in shares at the end of March. Israel Englander‘s Millennium Management topped the list of InterOil Corporation (USA) (IOC)’s investors in our database, as the fund raised its stake by 62% during the second trimester to 985,500 shares.

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