“买进尼古丁、能量饮料、糖果股票”！高盛喊话：准备迎接美国消费股狂欢

华尔街见闻2025-12-18

高盛分析师Bonnie Herzog建议投资者在2026年即将到来之际，果断买入尼古丁、能量饮料、糖果及美容类股票。她认为，随着消费者基本面显著改善，这些细分领域的增长将在未来跑赢大盘，现在正是这几类消费股的入场良机。 12月16日，高盛董事总经理兼资深消费分析师Bonnie Herzog在最新报告中发出强烈看涨信号，认为在经历了2025年必需消费品板块的普遍表现不佳后，市场逻辑正在发生转变。她...

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href=https://wallstreetcn.com/articles/3761584><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>高盛分析师Bonnie Herzog建议投资者在2026年即将到来之际，果断买入尼古丁、能量饮料、糖果及美容类股票。她认为，随着消费者基本面显著改善，这些细分领域的增长将在未来跑赢大盘，现在正是这几类消费股的入场良机。\n12月16日，高盛董事总经理兼资深消费分析师Bonnie Herzog在最新报告中发出强烈看涨信号，认为在经历了2025年必需消费品板块的普遍表现不佳后，市场逻辑正在发生转变。\n她...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3761584\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0034235188.USD","symbol_name":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) 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Goldman Sachs shouts: Prepare for a carnival of U.S. consumer stocks","themeId":"","isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/69648f2c989e1555b62269417f370c54","symbols_score_info":{},"content_text":"高盛分析师Bonnie Herzog建议投资者在2026年即将到来之际，果断买入尼古丁、能量饮料、糖果及美容类股票。她认为，随着消费者基本面显著改善，这些细分领域的增长将在未来跑赢大盘，现在正是这几类消费股的入场良机。\n12月16日，高盛董事总经理兼资深消费分析师Bonnie Herzog在最新报告中发出强烈看涨信号，认为在经历了2025年必需消费品板块的普遍表现不佳后，市场逻辑正在发生转变。\n她预计，受实际收入增长回升、就业增长、减税以及关税相关通胀消退的推动，2026年美国消费环境将更加具有建设性，尤其是对于中等收入群体而言。这将支持一种“非必需消费优于防御性消费”的投资策略。\nHerzog强调，尽管必需消费品板块明年可能仍面临压力，但选股环境将令人鼓舞。高盛继续鼓励投资者将新资金投入到那些具有吸引力且盈利增长能跑赢大盘的类别，具体包括能量饮料、尼古丁、糖果和美容产品。\n此外，该行还特别指出，受益于包括FIFA世界杯在内的“三大利好事件”，2026年极有可能成为“啤酒股之年”。这一看涨呼吁正值美国经济出现复苏迹象之际。尽管市场对“K型”经济复苏的担忧犹存，但10月份核心零售销售增长强劲，表明消费者整体状况依然坚挺。\n从防御转向进攻：宏观背景的改善\nHerzog在报告中回顾了2025年的市场表现，将其描述为必需消费品表现不佳的一年。除尼古丁股票外，该板块整体落后于市场。\n这一现象主要归因于对美国消费者健康状况的担忧，包括宏观不确定性、地缘政治紧张局势、关税以及裁员等因素，这些因素在这一年里压制了消费趋势，并迫使消费者采取寻求价值的行为。\n然而，展望2026年，高盛预计宏观环境将发生逆转。Herzog指出，随着实际收入增长的加速，叠加就业市场的支撑和潜在的政策利好，消费者信心将得到修复。\n这种背景将不再利好传统的防御性板块，而是为更具弹性的消费类别创造了机会。无论必需消费品板块整体走势如何，高盛认为2026年将是选股者的市场。\n2026年：“啤酒股之年”与“超级三连击”\n在具体的细分赛道中，高盛对啤酒行业给予了高度关注，甚至预测明年将是“啤酒股之年”。\nHerzog认为，该行业面临的逆风将逐渐减弱，并迎来一系列特定的利好因素。\n这些利好包括去年的低基数效应、预期的更好天气条件，以及最为关键的“事件三连击”：FIFA世界杯、奥林匹克运动会以及美国建国250周年纪念活动。\n高盛相信，这三大盛事将在明年显著增加啤酒的消费场景，从而推动销量的实质性增长。","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2592790899","isCrawlerRequest":true}