Qualcomm and Jacobs Engineering Added to Goldman Sachs Conviction Buy List

On Friday, I saw interesting news that both Qualcomm (QCOM) and Jacobs Engineering (JEC) had been added to Goldman's (GS) Conviction Buy List. Now, typically I don't pay particularly close attention to analyst upgrades/downgrades and the like. I'll check out their price target and see if they're saying anything new or completely outlandish that separates them from the crowd. However, one list I do like to pay attention to is the Goldman Sachs Conviction Buy List.

This list carries weight for me simply because Goldman is one of the few firms truly surviving in this credit crisis. In addition, the company is doing so by doing extremely well in its trading group. So, checking out its "A-list" for buys is a smart move simply because the company has been killing it in the equities markets.

The reason I point out these two specific names [JEC + QCOM] is that I'm actively interested in these names. Qualcomm being added is a positive sign for me as I've recently added to my position on the touch of the 50-day moving average. It is one of my biggest tech holdings and will continue to be in the future. The company is a big player in the mobile build-out space and also has a large hedge fund presence.

Jacobs Engineering (JEC) operates in the world of global infrastructure and has interested me for a while. I've been in and out of Foster Wheeler (FWLT), Fluor (FLR), and McDermott (MDR) for my exposure to this sector. Currently, I only hold FLR and am cautiously stalking other names to add to my infrastructure basket. Most of these companies have true global exposure and massive contract backlogs, which is reassuring.

I'm still in the midst of my infrastructure research, but I'm most likely going to be adding FWLT (again) in addition to my FLR position. However, JEC keeps popping up on my radar, so I'll definitely be researching it more.

Disclosure:  The author owns QCOM and FLR.

Comments

[Ames Tiedeman:]

QCOM is a superbly run company. They helped pioneer the tech scene in San Diego. I would never count them out. Smart people run the company.

2008 Jul 12 10:44 PM

[doubtful:]

I've been in and out of Qualcom for years and made tons of money in it. However - multiple ongoing lawsuits, very generous option grants and consequent insider sales can get on one's nerves and wallet. I consider buying at this point again for the next technical advance in the making. Appreciate the info about the GS recommendation.

2008 Jul 13 05:32 PM

[doubtful:]

Is there any info. about Qalcom chips being considered for the planned Google PDA to confront Apple? Should be an interesting battle next year.

2008 Jul 13 05:38 PM

[frdm45:]

Does anyone happen to know where on the web one can find the Goldman conviction sell and buy list? I've been all over their site and can't seem to find it, thanks.

2008 Jul 13 10:06 PM