GOLDMAN: Here are the 9 most overpriced stocks in the market

Gaining an anemic 4 points in the first half of the year, the S&P 500 wasn't exactly a huge boon for investors.

Goldman Sachs's David Kostin thinks the outlook is a bit rosier. He projects 6% growth in the S&P 500 for the second half of the year.

However, he also thinks the best days for some stocks are already in the past.

In a recent report, Kostin complied a list of the 40 companies that have the most downside relative to Goldman Sachs analysts' price targets.

We've ranked the bottom 9 companies with possible downsides of more than 20%. They're below in order of least to most downside.