Goldman Sachs has designated several European stocks as buys it expects to outperform and which other investors may miss. “Markets have been struggling to balance growth and inflation concerns (year-to-date),” analysts led by John Sawtell said in a July 10 research note. “From here, our strategists expect ‘rich and flat’ equity returns, constrained by high valuations and higher interest rates over time. That said, we see room for alpha opportunities across sectors.” Goldman Sachs column A series of “non-consensus buy ideas” for investors to consider. The bank has 2023-2024 EPS for each stock at least 2% above the consensus, and says less than 50% of other analysts have Buy ratings on its picks. The list includes Norwegian hydrogen producer Nel, which Goldman Sachs says has an 80% potential upside to its 12-month price target. The bank described it as “one of the main beneficiaries of the clean hydrogen revolution”. Analyst Michele Della Vigna likes the stock because of its strong growth prospects and focus on North America. Goldman also picked wind power company Vestas, saying its shares could rise 48% next year. “(Analyst) Ajay Patel sees Vestas as the best-positioned company in his wind power maker coverage because of its geographic diversification and size, its fundamentals (cash flow generation, growth, balance sheet) will benefit from growing demand for wind power installations,” the bank’s note read. Other options include ABN Amro and Swedish investment firm EQT. The bank’s potential upside is both 56%. It also picked chemicals company IMCD (with a potential upside of 57%) and beverage company Remy Cointreau (with a potential upside of 54%). Elsewhere, Finnish telecommunications company Elisa makes the list, which Goldman Sachs says could rise 42% over the next 12 months, while auditor Bureau Veritas has a potential upside of 48%. — CNBC’s Michael Bloom contributed to this report.