Investing.com — Goldman Sachs has added Norwegian Cruise Line (NYSE:NCLH) and Uber Technologies (NYSE:UBER) to its U.S. Conviction List, citing their promising growth trajectories for 2025 and beyond, according to a note from the investment bank.
Norwegian Cruise Line is highlighted as a standout in the premium cruise segment. A Goldman Sachs analyst notes that data from HundredX indicates “accelerating Net Purchase Intent (NPI)” for the company, suggesting strong consumer demand.
They also point to significant cost-saving opportunities stemming from a 2023 management shuffle. The analyst forecasts that Norwegian will expand its yield-to-unit cost spread by 2.5 percentage points in 2025, narrowing its valuation gap with competitor Royal Caribbean (NYSE:RCL) and creating upside potential for investors.
For Uber Technologies, Goldman sees a company well-positioned to meet its long-term growth and profitability targets despite headwinds in its Mobility business.
A Goldman analyst projects an adjusted EBITDA compound annual growth rate (CAGR) of +39% from 2023 to 2026, with Uber delivering over $3.50 in GAAP EPS in 2026, surpassing consensus estimates by 7%.
He also highlights Uber’s ability to scale end markets, increase profitability, and capitalize on cross-sell and “flywheel” effects across its platform. These factors support “a sustained mix of growth, margins, and free cash flow in addition to rising capital returns.”
Goldman Sachs also added Belden (NYSE:BDC) to its Conviction List, citing its ability to capitalize on a cyclical industrial recovery in 2025. However, Fox Corp (NASDAQ:FOXA), Parker Hannifin (NYSE:PH), and TPG (TPG) were removed.
