Goldman Sachs reported that some companies are in a strong position under current market conditions, citing Nvidia, Samsara, BrightSpring Health Services, Ulta Beauty, and Johnson & Johnson as stocks with continued upside potential.
According to Goldman Sachs’ analysis, analysts believe that companies combining growth potential with defensive characteristics are standing out. Despite recent gains in some stocks, Goldman argues that upside potential remains, while noting that declining stocks may present buying opportunities for investors.
Goldman Sachs maintains its “buy” rating on Nvidia
One of the companies spotlighted by Goldman Sachs was Nvidia. The bank said that Nvidia, which maintains its leading position in the AI chip sector, could sustain its growth trajectory through 2027. Goldman analysts believe that improvements in the company’s capital allocation will boost investor confidence, underscoring that Nvidia has established a more balanced structure between product innovation, ecosystem investments, and returns to shareholders. Report reiterated its “buy” recommendation for Nvidia and reported that its forecasts for the 2027 calendar year are more than 30% above market expectations.
Another company Goldman rated positively was BrightSpring Health Services. Goldman Sachs analyst Scott Fidel initiated coverage on the company, a provider of home health services and care solutions, with a “buy” recommendation and a $71 price target. According to the bank, BrightSpring is in a strong position for growth in care services targeting an aging population. Goldman stated that the company offers solutions in areas such as specialized medication processes, the expansion of infusion services into other areas of care, home-based clinical services, and the fragmented structure of the healthcare market. BrightSpring shares have risen 67% since the beginning of 2026.
Samsara was also among the stocks highlighted by Goldman Sachs. Goldman analyst Matthew Martino, pointing out that the company—which offers cloud-based solutions for fleet management and related operations—has expanded its growth areas, said Samsara is one of the most defensible growth assets in the software sector. Analyst also stated that potential weakness in the stock price could be viewed as a buying opportunity. Goldman also reported that it expects improvements in the company’s profit margins and views the investor day scheduled for June 24 as a potential positive catalyst. Samsara shares have risen 18% over the past month.
Analysts remain optimistic about ULTA, which has lost 25% of its value since the start of the year
Goldman Sachs also maintained its optimism regarding Ulta Beauty. Bank analyst Kate McShane noted that the beauty retailer is well-positioned to gain market share. According to McShane, fears about margins and revenue growth following Ulta’s latest earnings report are overblown. She said the company’s expectation of an acceleration in comparable sales growth for fiscal 2026 is supported by a healthy cosmetics category and strong operational execution. Goldman maintained its $652 price target for the stock, citing Ulta’s investments in marketing, workforce, and services as supporting market share gains. Although Ulta shares have fallen 23% year-to-date, Goldman believes this decline could present a buying opportunity.
Johnson & Johnson was also among the companies for which Goldman issued a “buy” recommendation. The bank drew attention to the company’s defensive structure and strengthening pharmaceutical segment. According to Goldman, market expectations do not sufficiently price in the growth potential of Johnson & Johnson’s innovative pharmaceuticals unit. Analysts also noted that the company has a balance sheet capacity of approximately $80 billion, which represents one of the strongest financial flexibilities in the sector. Goldman said this capacity could enable the company to support revenue growth in its pharmaceutical segment through acquisitions and investments.
