European stocks close higher

European stocks ended the trading week higher on Monday, as investors continued to be concerned about inflation and geopolitics.

Markets in Germany, Switzerland, Denmark, Norway, Belgium, and Austria were closed for the Whit Monday public holiday, making for a quieter trading day in Europe. The FTSE 100 in the United Kingdom and the CAC 40 in France both finished with gains of about 0.5 percent.

After a forced landing of a Ryanair flight and the subsequent detention on board, outraged European leaders gathered in Brussels on Monday to discuss how to punish Belarusian authorities.

Market

The Ryanair flight, which was in Belarusian airspace, was escorted by a fighter jet to Minsk. The authorities pretended to be concerned about a security threat before detaining dissident journalist Roman Protasevich. Since then, Ryanair has called it an “act of aviation piracy,” and the West has slammed Belarus. The Royal Mail rose 4.5 % back in Europe to lead the gains in Monday’s stock market. On the other hand, training continued to fall after its sharp drop last week, dropping 5.5 %.

Volatility is rife in the markets, with wild swings making recent sessions a roller coaster. The major indices dropped sharply at the end of last week, but Friday’s release of economic data showing vigorous manufacturing activity gave the market a boost, limiting the losses. In light of this, we focused our attention on three stocks that Goldman Sachs believes have outsized growth potential, with analysts predicting over 100% upside potential for each. Using TipRanks’ database, we discovered that most Wall Street agrees, with each stock receiving a “Strong Buy” consensus ranking.

Rain Therapeutics (RAIN)

Let’s start with Rain Therapeutics, a biopharmaceutical company that recently went public. The organization is working on a tumor-agnostic management plan that chooses patients based on their biology rather than their disease’s histology. Rain is a newly public company, with an initial public offering (IPO) in April. The company sold 7,352,941 shares at $17 each on the American stock exchanges. The total proceeds from the IPO were around $125 million. With an average price target of $33.75, shares could rise 112 percent from where they are now.

Relmada Therapeutics (RLMD)

Relmada Therapeutics, the following stock on Goldman Sachs’ radar, is a clinical-stage pharmaceutical company that focuses on central nervous system problems. The company’s top pipeline candidate, REL-1017, is a novel NMDA receptor channel blocker to treat major depressive disorder. Goldman Sachs analyst Andrea Tan has covered this stock with a Buy rating and a $78 price goal, implying a 103 percent gain over the next 12 months.

Agiliti (AGTI)

The company is a medical equipment manufacturer, selling various bariatrics, beds, therapy mattresses, fall prevention devices, and ventilators to hospitals and health systems. The company sold over 26.3 million shares on the first day of the IPO, raising about $431.5 million in gross proceeds. AGTI stock has received nine reviews in its first few weeks on the open market, with eight Buys and one Hold. The stock is currently trading at $17.12, with a one-year upside potential of 25% based on the $21.39 average price target.