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A Goldman Sachs report titled “Where to Invest Now” listed stocks that are constituents of Republican policy in several industries and sectors.
These are the winners of Republican policy, if Former President Donald Trump takes the White House again, according to David J. Kostin, chief U.S. equity strategist in the report.
In financials, companies would benefit from easing capital rules and antitrust.
- Citigroup Inc. (NYSE:C), Federal National Mortgage Association (OTCQB:FNMA), PJT Partners Inc. (PJT), CBRE Group Inc. (CBRE), Jefferies Financial Group Inc. (JEF), Raymond James Financial Inc. (RJF), The Carlyle Group Inc. (CG), Jones Lang LaSalle Inc. (JLL), Stifel Financial Corp. (SF), Comerica Inc. (CMA), JPMorgan Chase & co. (JPM), Synovus Financial Corp. (SNV), Discover Financial Services (DFS), Moelis & Co. (MC), TPG Inc. (TPG), Evercore Inc. (EVR), Morgan Stanley (MS), Wells Fargo & Co. (WFC), First Horizon Corp. (FHN), Piper Sandler Co. (PIPR).
In steel, some U.S.-listed equities would benefit from additional manufacturing in the U.S.
- ATI Inc. (NYSE:ATI), Gerdau S.A. (GGB), Ryerson Holding Corp. (RYI), Cleveland-Cliffs Inc. (CLF), ArcelorMittal S.A. (MT), Steel Dynamics Inc. (STLD), Commercial Metals Co. (CMC), Nucor Corp. (NUE), Vale S.A. (VALE), Carpenter Technology Corp. (CRS), Reliance Inc. (RS), Worthington Steel Inc. (WS).
In domestic security and law enforcement, there could be plans to “deliver record funding to hire and retain police officers,” securing protections for them.
- Axon Enterprise Inc. (NASDAQ:AXON), Gen Digital Inc. (GEN), SentinelOne Inc. (S), CrowdStrike Holdings Inc. (CRWD), The GEO Group Inc. (GEO), Zscaler Inc. (ZS), CoreCivic Inc. (CXW), Palo Alto Networks Inc. (PANW), CyberArk Software Ltd. (CYBR), Parsons Corp. (PSN).
In onshore production and enablers, companies that rely on the domestic supply chain, have a high manufacturing footprint, or have initiatives to move operations in the U.S. would benefit:
- Applied Materials Inc. (AMAT), Jabil Inc. (JBL), Regal Rexnord Corp. (RRX), Amphenol Corp. (APH), KLA Corp. (KLAC), TE Connectivity Ltd. (TEL), Broadcom Inc. (AVGO), Lam Research Corp. (LRCX), Texas Instruments Inc. (TXN), Flex Ltd. (FLEX), Mohawk Industries Inc. (MHK), Intel Corp. (INTC), Rockwell Automation Inc. (ROK).
In border protection, the companies involved in the construction of tighter borders during Trump’s presidency would benefit.
- AECOM (ACM), Fluor Corp. (FLR), Martin Marietta Materials Inc. (MLM), Caterpillar Inc. (CAT), Granite Construction Inc. (GVA), Quanta Services Inc. (PWR), CEMEX S.A.B. de C.V. (CX), Jacobs Solutions Inc. (J), Vulcan Materials Co. (VMC), Eagle Materials Inc. (EXP), KBR Inc. (KBR).
In small-business exposure, small business optimism tends to improve during Republican presidencies. These are some companies with 100% of their sales generated from small businesses:
- ACV Auctions Inc. (ACVA), Deere & Co. (DE), Paycor HCM Inc. (PYCR), Automatic Data Processing Inc. (ADP), Digital Ocean Holdings Inc. (DOCN), Squarespace Inc. (SQSP), AGCO Corp. (AGCO), IDEXX Laboratories Inc. (IDXX), Toast Inc. (TOST), BILL Holdings Inc. (BILL), Payoneer Global Inc. (PAYO), Upwork Inc. (UPWK), Corteva Inc. (CTVA), Paychex Inc. (PAYX), Yelp Inc. (YELP).
In energy, policies may favor traditional commodity production in the U.S. These are companies sensitive to commodity supply and demand.
- Canadian Natural Resources Ltd (CNQ), Helmerich & Payne Inc. (HP), Patterson-UTI Energy Inc. (PTEN), Coterra Energy Inc. (CTRA), Kinder Morgan Inc. (KMI), Schlumberger Ltd. (SLB), Cenovus Energy Inc. (CVE), Cheniere Energy Inc. (LNG), SM Energy Co. (SM), Chevron Corp. (CVX) Marathon Oil Corp. (MRO), Suncor Energy Inc. (SU), Devon Energy Corp. (DVN), Matador Resources Co. (MTDR), World Kinect Corp. (WKC), EOG Resources Inc. (EOG), Murphy Oil Corp. (MUR), The Williams Co. (WMB), Diamondback Energy Inc. (FANG), ONEOK Inc. (OKE), Exxon Mobil Corp. (XOM), Halliburton Co. (HAL), Ovintiv Inc. (OVV).
In coal, these companies could benefit from additional coal in the U.S.
- Peabody Energy Corp. (BTU), CONSOL Energy (CEIX), Hallador Energy Co. (HNRG), Uranium Energy Corp. (UEC), Centrus Energy Corp. (LEU).