Goldman Sachs highlights earnings-season stock picks across media, logistics and energy

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Goldman Sachs earnings picks

Highlights

Goldman Sachs maintains buy ratings on Disney, Nu Holdings, Baker Hughes, UPS, and Omnicom ahead of upcoming earnings, focusing on business momentum and structural growth.
Disney's price target is trimmed to $140 as shares are down 10% YTD, with analysts projecting a 13% EPS CAGR and describing it as a long-term earnings compounder.
Baker Hughes, up 23% this year, is expected to see further margin and revenue growth from the Chart Industries integration, while Nu Holdings sees upside from U.S. credit expansion.

Earnings-driven picks before quarterly reports

As reported by CNBC Pro, Goldman Sachs says several of its buy-rated names remain attractive ahead of upcoming earnings releases, with analysts emphasizing business momentum, margin potential and longer-term growth drivers.

For Disney, analyst Michael Ng says the company remains in the early stages of a broader product and experiences investment cycle. He trimmed his price target to $140 from $144, but keeps a constructive stance on the stock and describes the media and theme park group as a multi-year earnings compounder supported by an estimated 13% EPS compound annual growth rate. Disney shares are down 10% this year, and the company is due to report earnings later this quarter.

Goldman also reiterates a positive view on Nu Holdings, where analyst Tito Labarta says the Latin American fintech has meaningful upside, particularly through its push into U.S. consumer credit lending. He says the company’s low-cost digital model and customer experience could support a successful entry into the market, while Goldman maintains a buy rating and a $23 price target ahead of earnings scheduled for mid-November.

Baker Hughes is another name the bank is backing after reinstating coverage with a buy rating earlier this week. Analyst Neil Mehta says the oilfield services company is benefiting from operational and geographic synergies following the closing of its Chart Industries acquisition, with integration expected to support both margin and revenue growth through time.

Goldman says Baker Hughes remains compelling even after a 23% gain this year, and Mehta sees multiple paths for earnings expansion through 2030. The company is expected to report in late October, although Goldman notes it was one of the advisers to Baker Hughes and helped provide debt financing for the Chart Industries transaction.

Profit growth and sector implications

Beyond those names, Goldman highlights UPS as a stock that could benefit from a cleaner profit profile after the completion of the Amazon volume drawdown and related cost reductions. The bank says UPS should begin to show more consistent profit growth, supported by a structurally leaner, more automated and higher-yielding domestic network.

For Omnicom, Goldman argues consensus expectations are too cautious on organic growth ahead of the advertising group’s third-quarter results on October 20. The bank says continued double-digit growth in media should remain the main driver, and it sees room for the earnings release to act as a positive catalyst with the shares trading at 6 times estimated 2027 earnings per share.

The stock calls reflect a broader Goldman strategy focused on companies where near-term earnings could reinforce longer-term investment cases. Across the list, the bank is emphasizing catalysts tied to cost discipline, acquisition synergies, digital expansion and exposure to resilient end markets, themes that are likely to shape investor positioning through the current reporting season.

In our earlier coverage of the tougher backdrop heading into third-quarter earnings, we noted that rising Treasury yields and the Federal Reserve’s anti-inflation stance were weighing on sentiment as big U.S. banks prepared to kick off reporting. We also highlighted how market leadership remained narrow—concentrated in AI and tech—even as investors looked to earnings to determine whether the rally could broaden.

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