Goldman Sachs: Ten Energy and Power Stocks See Average Upside of 27%, Driven by Data Centers and LNG

On Oct 10 that, according to Chaoxiang Research, Goldman Sachs' October 8, 2026 research report highlighted ten energy and power stocks with an average total return potential of 27%, assigning a Buy rating to all. Coverage includes ConocoPhillips, Occidental Petroleum, Permian Resources, Quanta Services, Duke Energy, Baker Hughes, Golar LNG, HF Sinclair, TC Energy, and Antero Resources. Target prices and total returns are based on closing prices as of October 7, 2026.

Goldman Sachs noted that data center demand is fueling the power sector, with Duke Energy having a data center pipeline of 15.4 GW and Quanta Services projecting a revenue CAGR of approximately 15% by 2030. In the LNG segment, Golar LNG is expected to reach a run-rate EBITDA of roughly $1.2 billion by 2030, with each MKII vessel contributing an additional ~$400 million. Upstream exploration and production stands to benefit from a free cash flow inflection point, while refining earnings forecasts have room for upward revision. Key fourth-quarter catalysts include ConocoPhillips' Willow project, a guidance upgrade from Duke Energy, and Golar LNG's contract for its fourth vessel.