Expeditors amongst top picks at Goldman

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Investing platform Seeking Alpha reports today that given a stronger “growth outlook in China”, several stocks are poised to benefit from the country’s reopening, according to the Goldman Sachs equity strategy team.

Expeditors is amongst a list including 50 names, spanning Qualcomm, Starbucks, AMD and others.

“The sudden reversal of China’s long-standing zero covid policy means the country is reopening more swiftly than expected,” strategist David Kostin wrote in a note, according to Seeking Alpha.

“Our China economists now expect GDP growth of 5.5% in 2023 (vs. 4.5% just two months ago).

“Baskets of companies with foreign revenue exposure have outperformed alongside the brightening global growth outlook and FX weakness,” Kostin reportedly said. “The China Sales Exposure basket contains Russell 1000 (NYSEARCA:IWB) companies with the highest sales exposure to China.”

The full post is here.