UBER Dropped From Goldman's US Conviction List In Monthly Shuffle (PINS, ABT, MSGE)

Goldman Sachs has removed Uber, Pinterest, and OneStream from its U.S. Conviction List while adding Madison Square Garden Entertainment, Hershey, Air Products, and Abbott.

Goldman Sachs reshuffled its investment recommendations by dropping Uber Technologies, Pinterest, and OneStream Software from its prestigious Conviction List. This strategic move reflects evolving market conditions and recalibrated expectations for these companies' growth prospects. Meanwhile, the firm upgraded several other stocks, including Madison Square Garden Entertainment with a 7% projected annual revenue growth target and a $52 price target.

• Uber's removal suggests potential concerns about meeting previously ambitious financial targets, including 39% adjusted EBITDA growth through 2026
• New additions like Hershey ($222 target) and Abbott ($157 target) indicate Goldman's shift toward companies with stronger near-term growth opportunities
• The reshuffling highlights the dynamic nature of investment landscapes and evolving risk assessments across various market sectors
• Stock prices reacted immediately, with Uber trading at $97.13 (up 0.86%) and Pinterest at $31.87 (down 0.93%) in pre-market activity