Goldman Sachs
May 28, 2026
GS European Express
Market ReportEquitiesMacro Economic IndicatorsRates Govt BondsInformation TechnologyIndustrials
Goldman Sachs maintains 'Buy' ratings on major European industrial and tech firms like ASML, Prysmian, and Ferrari, citing AI tailwinds and overblown market fears despite record-low US consumer confidence.
Key Takeaways
- 1.Ferrari's market sell-off post-Luce premiere is viewed as an overreaction; core earnings strategy remains intact despite controversial social media reception.
- 2.ASML continues to see strong AI-driven demand and resilient China demand, supporting a smooth capacity ramp into 2026/27.
- 3.Prysmian price target raised by 28% following spikes in fiber prices and strong demand from data centers.
Table of Contents
- Ferrari NV (RACE.MI)
- ASML Holding (ASML.AS)
- Capgemini (CAPP.PA)
- Prysmian (PRY.MI)
- ConvaTec Plc (CTEC.L)
- Europe Rating Changes
- Europe PT Changes (10% or more)
- Europe EPS Changes (10% or more)
- Other notable research
- Podcasts
- Macro / markets
- Global
- Upcoming Webinars
- Corporate Access over the next 3 months
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Authors
Sahar IslamAyushi Mishra
Securities
RACE.MIASML HoldingPrysmianCAP FPCTEC.L
Themes
AI-Driven Demand ExpansionDivergence between Corporate Resilience and Consumer ConfidenceImpact of Geopolitical Conflict on Treasury Demand
Regions
EuropeNorth AmericaAsia PacificUnited StatesChinaGermany