Ticker: GRMN

Price as of December 31: $52.83

Upside to target: 21.1%

Comment: Garmin is adding a new smartwatch to its existing line of wearables this year. "Wearables will be the fastest ramping consumer technology product to date, addressing a broad range of industries and $1.6T of global consumer/business spend," a Morgan Stanley note said in November.

Source: Goldman Sachs

Ticker: CMI

Price as of December 31: $144.17

Upside to target: 21.4%

Comment: Cummins secured tax breaks for two capital projects it is undertaking: a $4.34 million break on a new global distribution headquarters in downtown Indianapolis, and a 15-year payment-in-lieu-of-taxes, or PILOT, for an expansion of its facility in Memphis.

Source: Goldman Sachs

Ticker: FDX

Price as of December 31: $173.66

Upside to target: 21.5%

Comment: In December, FedEx acquired third-party logistics company Genco, which specializes in reverse logistics and will expand FedEx's footprint in retail and e-commerce.

Source: Goldman Sachs

Ticker: ADSK

Price as of December 31: $60.06

Upside to target: 21.5%

Comment: Autodesk sees 23% revenue growth from its architecture, engineering and construction division in Q2 FY15, as construction firms' spending on software maintains an upward trend.

Source: Goldman Sachs

Ticker: EOG

Price as of December 31: $92.07

Upside to target: 21.6%

Comment: The company divested the majority of its Canadian assets in December in two transactions that realized $410 million, net of customary transaction adjustments.

Source: Goldman Sachs

Ticker: TIF

Price as of December 31: $106.86

Upside to target: 21.7%

Comment: "We were pleased with overall sales performance, especially in light of economic and geopolitical challenges around the world," CEO Michael Kowalski said in the third quarter earnings statement as the company reported a 5% year-on-year increase in net sales.

Source: Goldman Sachs

Ticker: ABBV

Price as of December 31: $65.44

Upside to target: 22.2%

Comment: Zacks upgraded the stock's rating from neutral to outperform in a research note Friday.

Source: Goldman Sachs

Ticker: CAT

Price as of December 31: $91.53

Upside to target: 22.4%

Comment: Caterpillar's shares tumbled nearly 6% after JP Morgan downgraded its stock on concerns about its exposure to oil and gas.

Source: Goldman Sachs

Ticker: WMB

Price as of December 31: $44.94

Upside to target: 22.4%

Comment: "Our focus on natural gas is really driven by our belief and conviction that natural gas is the fuel source that's going to continue to grow in this country for the next couple of decades by virtue of the fact that it is abundant and it's cheap and it's clean and it's replacing other sources of energies that are less abundant," CFO Don Chappel said at an investor conference. The company sees a 3% CAGR in natural gas for the next 15 years.

Source: Goldman Sachs

Ticker: NRG

Price as of December 31: $26.95

Upside to target: 22.4%

Comment: NRG Yield, Inc. completed its acquisition of a second set of assets from NRG Energy worth $480 million in cash and $737 million in project debt.

Source: Goldman Sachs

Ticker: OKE

Price as of December 31: $49.79

Upside to target: 22.5%

Comment: Oneok has applied to build a $640 million natural gas processing plant in North Dakota by the end of 2016.

Source: Goldman Sachs

Ticker: LEN

Price as of December 31: $44.81

Upside to target: 22.7%

Comment: In November, Lennar issued $350 million of 4.50% senior notes due 2019.

Source: Goldman Sachs

Ticker: DOW

Price as of December 31: $45.61

Upside to target: 22.8%

Comment: Dow Chemicals sold its global sodium borohydride business to Vertellus Specialty Materials LLC and its polyolefin films plant to Valfilm North America Inc. for about $225 million.

Source: Goldman Sachs

Ticker: PCLN

Price as of December 31: $1140.21

Upside to target: 22.8%

Comment: Priceline's non-GAAP net income in the third quarter was $1.2 billion, up 29% from the previous year.

Source: Goldman Sachs

Ticker: HOG

Price as of December 31: $65.91

Upside to target: 22.9%

Comment: "Through nine months, Harley-Davidson 2014 consolidated revenue grew 6.8 percent, net income increased 16.9 percent and diluted EPS rose 20.1 percent to $3.52 compared to the year-ago period," the company said in its third quarter earnings statement in October.

Source: Goldman Sachs

Ticker: AMGN

Price as of December 31: $159.29

Upside to target: 23.0%

Comment: Amgen and Kite Pharma reached an agreement to develop cancer immunotherapy treatments. The company has up to 10 other treatments that have been submitted for approval in the US and the EU.

Source: Goldman Sachs

Ticker: HES

Price as of December 31: $73.82

Upside to target: 24.6%

Comment: Hess began operation from the Tubular Bells Field in the deepwater Gulf of Mexico in November. The company said it will deliver about 25,000 barrels of oil per day.

Source: Goldman Sachs

Ticker: CRM

Price as of December 31: $59.31

Upside to target: 24.8%

Comment: "Salesforce continues to be the fastest growing top 10 software company, with constant currency revenue and deferred revenue growth of 30% or more year-over-year," said CEO Marc Beniof in its third quarter earnings statement.

Source: Goldman Sachs

Ticker: PCAR

Price as of December 31: $68.01

Upside to target: 25.0%

Comment: "The U.S. and Canada truck industry Class 8 retail sales are 17 percent higher year-to-date than last year," said Dan Sobic, PACCAR executive vice president, in the third quarter earnings statement. "Our customers are benefiting from good economic growth, improving freight rates and lower fuel prices."

Source: Goldman Sachs

Ticker: KORS

Price as of December 31: $75.10

Upside to target: 26.5%

Comment: Shares fell 6% in trading on Tuesday after Credit Suisse downgraded the stock to neutral from outperform, citing concerns that the luxury retailer is offering deep discounts amid increased competition.

Source: Goldman Sachs

Ticker: TSN

Price as of December 31: $40.09

Upside to target: 27.2%

Comment: Tyson Foods produces about one out of every five pounds of beef, chicken and pork in the US.

Source: Goldman Sachs

Ticker: HAS

Price as of December 31: $54.99

Upside to target: 27.3%

Comment: Hasbro has seen earnings growth of 11% to 56% in the last three quarters, and sales growth from 2% to 8% in the same period.

Source: Goldman Sachs

Ticker: LUV

Price as of December 31: $42.32

Upside to target: 30.0%

Comment: Shares of Southwest rose 124% in 2014, the most on the S&P 500, as its fuel costs plunged with oil prices.

Source: Goldman Sachs

Ticker: THC

Price as of December 31: $50.67

Upside to target: 30.3%

Comment: Tenet withdrew applications to acquire five Connecticut hospitals in November, after the state Office of Health Care Access offered a restrictive list of conditions.

Source: Goldman Sachs

Ticker: SPG

Price as of December 31: $182.11

Upside to target: 31.2%

Comment: The company's shares reached a 1-year high in trading on Tuesday after several Wall Street analysts raised their price targets and ratings.

Source: Goldman Sachs

Ticker: NFLX

Price as of December 31: $341.61

Upside to target: 31.7%

Comment: Netflix announced on Monday that it will begin recommending TVs that offer the best viewing experience,hoping this will "elevate the importance of its service to be on par with cable TV," Engadget reported.

Source: Goldman Sachs

Ticker: PXD

Price as of December 31: $148.85

Upside to target: 32.3%

Comment: "Pioneer boasts a strong balance sheet with about $2 billion in debt against roughly $20 billion in equity, excellent oil price hedges and a likelihood of not just surviving the downturn, but actually growing its output 21% next year," Forbes reported.

Source: Goldman Sachs

Ticker: FCX

Price as of December 31: $23.36

Upside to target: 32.7%

Comment: Shares of the company declined in 2014 with commodity prices. It is one of the largest producers of copper and gold in the world.

Source: Goldman Sachs

Ticker: PSX

Price as of December 31: $71.70

Upside to target: 33.9%

Comment: Phillips 66 announced a 2015 capital budget of $4.6 billion.

Source: Goldman Sachs

Ticker: TSO

Price as of December 31: $74.35

Upside to target: 34.5%

Comment: "Goldman Sachs analyst Neil Mehta sees a strong upside potential because of improvement in Diesel crack spread between Brent and Californian refineries," Bidness Etc reported. "Furthermore, the analyst foresees strong synergies as a result of acquisition of Carson refinery in Los Angeles, Arco stations, and other assets refinery from BP plc (ADR) for $2.4 billion in May last year."

Source: Goldman Sachs

Ticker: GM

Price as of December 31: $34.91

Upside to target: 34.6%

Comment: GM sold 274,483 cars and light trucks in December, a 19% increase year-over-year compared to 13% forecast.

Source: Goldman Sachs

Ticker: DAL

Price as of December 31: $49.19

Upside to target: 38.2%

Comment: Delta announced in December that it will add three additional cabin classes, aimed at frequent travelers that pay the highest fares.

Source: Goldman Sachs

Ticker: COG

Price as of December 31: $29.61

Upside to target: 38.5%

Comment: "Cabot expects to generate >20% production growth in 2015 despite a challenged commodity price environment based on relatively flat drilling and completion spending," the company wrote in a presentation.

Source: Goldman Sachs

Ticker: WYNN

Price as of December 31: $148.76

Upside to target: 39.2%

Comment: Wynn announced Monday that it has will buy 33 acres of land on the waterfront of the Mystic River in Massachusetts, to build a $1.75 billion casino resort.

Source: Goldman Sachs

Ticker: NBL

Price as of December 31: $47.43

Upside to target: 39.2%

Comment: The US government is supporting offshore natural gas deals in the Mediterranean that involve the company after an Israeli competition regulator cited concerns.

Source: Goldman Sachs

Ticker: SWN

Price as of December 31: $27.29

Upside to target: 39.2%

Comment: Southwestern will develop 413,000 acres of reserves in the Marcellus and Utica shale fields for natural gas production at a cost of $5 billion.

Source: Goldman Sachs

Ticker: AA

Price as of December 31: $15.79

Upside to target: 39.3%

Comment: Alcoa has signed multi-year contracts with Boeing and Pratt & Whitney worth over $2 billion.

Source: Goldman Sachs

Ticker: GMCR

Price as of December 31: $132.40

Upside to target: 39.7%

Comment: Keurig will enter into the soft drink market this year. It announced in December that it will spend $220 million to acquire a European company that's about to make its own hot and cold beverages.

Source: Goldman Sachs

Ticker: CNX

Price as of December 31: $33.81

Upside to target: 42.0%

Comment: Consol Energy will spin off some of its coal mining operations to focus on natural gas drilling.

Source: Goldman Sachs

Ticker: RRC

Price as of December 31: $53.45

Upside to target: 49.7%

Comment: Range announced a 2015 capital budget of $1.3 billion, an 18% decrease from 2014, as its drilling in the Utica/Point Pleasant well in Pennsylvania soared to record levels for the Appalachian basin.

Source: Goldman Sachs

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