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

According to research, a Goldman Sachs report dated October 8, 2026, identifies ten energy and power stocks with an average total return potential of 27%, all assigned a Buy rating. The coverage includes ConocoPhillips, Occidental Petroleum, Permian Resources, Quanta Services, Duke Energy, Baker Hughes, Golar LNG, HF Sinclair, TC Energy, and Antero Resources. Price targets and total return projections are based on closing prices as of October 7, 2026. Goldman Sachs notes that data center demand is driving the power sector, with Duke Energy maintaining a 15.4-GW data center pipeline and Quanta Services projecting a revenue CAGR of approximately 15% through 2030. On the LNG front, Golar LNG is expected to generate around $1.2 billion in run-rate EBITDA by 2030, with each MKII vessel adding approximately $400 million. Upstream oil and gas producers are benefiting from an inflection point in free cash flow, while refining profit forecasts have room for upward revisions. Key Q4 catalysts include ConocoPhillips’ Willow project, an upgrade to Duke Energy’s guidance, and the contract for Golar LNG’s fourth vessel.