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☆ Goldman says these global stocks are set to soar on share buybacks — giving one over 100% upside
▼ + stars: | 2023-09-14 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Analysts from Goldman Sachs named the European stocks they predict will announce significant buybacks until 2024 — which they say will present substantial upside to their share prices. Stocks with massive upside potential On its list of "companies forecast to execute buybacks over 2022-24," Goldman Sachs included financial players NatWest Group , Lloyds Banking Group , Barclays and BAWAG Group . NatWest Group is expected to have a share reduction of 18% between 2022 and 2024. Barclays — which is penciled to have a share reduction of 11% between 2022 and 2024 — was also rated a buy. The company is looking at a 12% share reduction over the next two years.

Persons: Goldman Sachs, Buybacks, —, Goldman, Prosus, — CNBC's Michael Bloom Organizations: Companies, NatWest Group, Lloyds Banking Group, Barclays, BAWAG Group, BAWAG, Media Locations: Europe, United States

REUTERS/Brian Snyder/File PhotoLONDON, March 15 (Reuters) - Investment managers Bridgewater Associates, Millennium Management and Marshall Wace added to short positions on European banking shares after the collapse of Silicon Valley Bank sparked contagion fears across global banks, according to data from Breakout Point. Short sellers had amassed bearish positions worth more than $15.7 billion against European banks by Tuesday, according to S&P Global Market Intelligence. Millennium Management, Citadel, Wellington Management, Capital Fund Management, Odey Asset Management and Marshall Wace declined to comment. Marshall Wace held the largest disclosed number of short positions against banks, public filings from Austria, Italy, Sweden, Britain, Spain and Poland analysed by Breakout Point showed. Its shares were up 18% at 1602 GMT, in a broader European banking index (.SX7P) up 1.4%In the week to Wednesday, some 120 billion euros had been wiped off the value of European bank shares.

Big hedge funds including Marshall Wace and Odey Asset Management added to short positions against Europe's banks, regulatory filings seen by Reuters and data from Breakout Point showed. Marshall Wace held the largest disclosed number of short positions against banks, public filings from Austria, Italy, Sweden, Britain, Spain and Poland analysed by Breakout Point showed. The banks included BAWAG (BAWG.VI), FinecoBank (FBK.MI), Handelsbanken (SHBa.ST), CaixaBank (CABK.MC), NatWest Group (NWG.L) and PKO Bank Polski (PKO.WA). BNP Paribas shares fell by as much as 12% on Wednesday before recovering to show a loss of 9%, while Deutsche Bank shares fell almost 9%. In the week to Wednesday, some 120 billion euros ($126 billion) had been wiped off the value of European bank shares.

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