Goldman Sachs Says Markets Stay Strong – Picks 2 ‘Strong Buy’ Stocks to Consider

The US-led campaign against Iran is now about a month old, and while markets have been volatile, they’re holding up better than many expected. Stocks initially sold off as oil prices surged and inflation fears picked up, but the broader pullback has been relatively contained, with declines measured in the mid-single digits rather than anything more severe.

At Goldman Sachs, asset allocation head Christian Mueller-Glissmann points to a few key forces helping keep that stability in place. Last year’s “Big Beautiful Bill” legislation, combined with still-solid GDP growth, has created a kind of underlying support for markets. Put together, those elements have acted as a steady anchor – one that could continue to help markets navigate uncertainty and push forward into 2026.

“Our baseline expectation would be that markets eventually recover after a continued period of volatility. Our macroeconomic baseline for the rest of the year is that we won’t have a recession, we won’t have inflation unanchored in a significant way, and that means that over the medium term, growth expectations will stabilize and 60/40 portfolios will recover. Our machine-learning based model that predicts the likelihood of a sustained decline for 60/40 portfolios for the next 12 months is still reasonably low because growth is still good, inflation is not accelerating as much, and policy is still easing,” Mueller-Glissmann opined.

The stock analysts at Goldman are following this line and are picking out stocks to consider as the markets stay strong. We have drawn the details on two of these picks from the TipRanks platform; according to the data, both are ‘Strong Buy’ stocks with a double-digit upside potential. Here’s a closer look.

Smurfit Westrock (SW)

Smurfit Westrock might not be a household name, but it’s been steadily building its position in the packaging world since 1934. Based in Dublin, the company now spans a wide range of needs, from everyday corrugated cardboard and paperboard to more specialized solutions for industries like pharmaceuticals, food and beverage, and retail. It also moves beyond standard packaging with niche offerings such as solid board, food-contact containers, and bag-in-box systems, giving it a broader footprint than many of its peers.

At the core of the business is its paper and board platform, which underpins much of what the company produces. Beyond standard formats, Smurfit also develops tailored packaging solutions designed for specific applications, allowing it to serve customers with more customized and higher-value products.

In addition to its traditional packing solutions, Smurfit also offers a range of solutions for packing machinery and automation, including ecommerce, bag-in-box, and multipack packing machinery, as well as end-of-line packaging automation. And, on lines related to packaging, Smurfit offers solutions for retail displays, high-graphic packaging, and out-of-home signage. The company even offers specialty services, such as leaflets and materials recycling.

In short, Smurfit Westrock has its hands in virtually every aspect of the packaging industry. The company has a global footprint, and boasts of having over 500 packaging and other facilities in its network, along with 57 production mills. The company’s production network is spread across 40 countries around the world.

On the financial side, this company reported $7.58 billion in revenue for 4Q25, the last period reported. This revenue total was flat year-over-year but beat the forecast by ~$37 million. At the bottom line, Smurfit reported an EPS of $0.18, down 10 cents per share year-over-year and missing the forecast by 33 cents per share.

For Goldman Sachs analyst Gabriel Simoes, this packaging company holds a strong industry position and offers reason for continued optimism.

“Our constructive view on the name is supported by a more positive outlook for the US paper and packaging market relative to other regions, given the sector’s consolidation and integration, as well as tariff protection, which we think should help shield it from import competition and support higher profitability. Smurfit is the best positioned to capture this upside given it is the highest exposed to the US in our coverage (c.59% of 2025 EBITDA). We also see capacity rationalization in the US containerboard and boxboard markets accelerating the pace of margin increase,” Simoes explained.

The analyst goes on to rate SW shares as a Buy, with a $49 price target that indicates room for a one-year upside potential of nearly 23%.

The broader analyst view lines up with that stance. Smurfit boasts a unanimous Strong Buy rating based on 10 positive reviews. With shares trading at $39.85 and an average price target of $58.10, the implied upside reaches about 46%. (See SW stock forecast)

MiniMed Group (MMED)

MiniMed is one of the newer names in the market, and it’s already catching the eye of Goldman Sachs after spinning off from Medtronic earlier this year. The move essentially carved out Medtronic’s diabetes unit and turned it into a standalone story, giving investors a more focused way to play the space.

MiniMed’s current products are focused on automated insulin delivery systems and include the 780G system and the Smart MDI system. These systems are designed to provide optimized diabetes treatment around the clock, based on continuous monitoring and insulin adjustments.

Through its association with Medtronic, MiniMed can trace its roots back more than 40 years – giving the company strong experience in the medical device field. The diabetes treatment program that MiniMed has inherited and taken public has a reputation for finding groundbreaking innovations and serves a global customer base. The company boasts over 8,000 employees and serves over 640,000 customers across 80 or more countries around the world.

Looking at the company’s IPO, we see that MiniMed raised approximately $560 million in gross proceeds from the event. The company put 28 million MMED shares on the market at an opening price of $20. We should note that this price was lower than the original target range, which had been set between $25 and $28 per share. The IPO closed on March 9, and after the sale, Medtronic retains a 90% ownership stake in MiniMed.

Now, with the stock trading independently, it’s starting to pick up coverage. Goldman Sachs analyst David Roman has taken a constructive view, pointing to the combination of established products and a pipeline that could support the next leg of growth.

“At current levels, the market is discounting both the current performance and forward outlook with almost no value to the company’s developing pipeline, in our view. Our thesis is predicated on (1) moving to an independent company allows for dedicated resources and more focused execution; (2) an emerging pipeline that is already tracking ahead of expectations should turn the tide on market share (which has been under pressure the past several years) as well as revenue growth; and (3) as new products gain scale and traction, significant operating leverage should surface to drive hundreds of bps of adjusted EBITDA improvement through FY30,” Roman noted.

Quantifying his stance, Roman gives MMED a Buy rating, with a $24 price target that implies the stock will gain 61% by this time next year. (To watch Roman’s track record, click here)

Wall Street, more broadly, seems to agree. MiniMed boasts a Strong Buy consensus rating based on 12 recent analyst reviews, including 11 Buys and just 1 Hold. With shares currently trading at $14.92 and an average price target of $21.55, the setup suggests 44% upside. (See MMED stock forecast)

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.