With 2026 now upon us and the stock markets continuing to set new highs, many investors are wondering where to direct their capital to obtain interesting, but also solid and sustainable returns over time. After three years of bullish run, Goldman Sachs, one of the most influential investment banks in the world, calls for caution, but also to seize new opportunities in those sectors that promise to grow thanks to increasing dividends and solid fundamentals.
Where to invest in 2026? Expert analysis
According to a recent report published in October 2025, Goldman Sachs expects S&P 500 dividend growth of 6% in 2026, with healthcare, industrial and utilities sectors leading the way for above-average increases. Those looking for an investment oriented towards both return and stability could look to these sectors, where some of the most reliable and generous companies are located in terms of distribution of profits to shareholders.
5 stocks to invest in
American Electric Power is one of the largest electric utilities in the United States, with more than 5 million customers in 11 states. The company produces energy from a diversified mix of sources (coal, natural gas, nuclear, hydroelectric, solar and wind) and manages the entire supply chain, from generation to transmission and distribution. In 2025 the stock has gained over 23% on an annual basis, demonstrating remarkable resilience in a context of still high rates. AEP continues to stand out for its stable dividend policy, which translates into a yield of approximately 3% per year. According to Goldman Sachs, the stock remains undervalued compared to its potential, thanks also to the transition towards cleaner energies and the company’s ability to combine sustainability and profitability.
Less known to the general European public, Eversource Energy is a company that operates in the distribution of electricity, gas and water in the North-East of the United States (Connecticut, Massachusetts and New Hampshire). It is a company that boasts 23 consecutive years of dividend growth, a rare sign of solidity and reliability in the sector. With a yield above 4% and an annual growth performance of almost 19%, Eversource represents a defensive choice for those seeking stability and constant income. Additionally, its expansion into solar energy and regulated water management allows it to benefit from predictable and increasing cash flows. Goldman Sachs considers it an ideal stock for long-term oriented investors.
In the healthcare industry, Johnson & Johnson is one of the most solid and classic choices. The American multinational, active in pharmaceuticals, biotechnology and medical devices, continues to offer regular returns and a diversified product portfolio, which reduces exposure to individual market risks. After 2025 of strong growth (+22%), the stock still trades at reasonable multiples and also benefits from the structurally growing demand for healthcare and medical products, strengthened by the aging population and investments in biotechnological research. According to Goldman Sachs, 2026 could be a record year for health care dividends, and Johnson & Johnson remains one of the best options for combining stability, growth and income.
Then there is Merck, the company among the first in the world for research and production of drugs and vaccines, which has gone through a complicated 2025 on the stock market front (-12%), but Goldman Sachs considers it a great entry opportunity. With a dividend yield above 3.5%, the company combines profitability and appreciation potential. Its strategic collaborations with giants such as AstraZeneca, Bayer and Gilead Sciences open new perspectives in HIV treatment and oncology, two of the most promising segments of the pharmaceutical sector. For Goldman, it is a stock to hold in the portfolio in the medium term, capable of combining solid fundamentals with growth prospects.
In the industrial sector, the name to watch is L3Harris Technologies, one of the main American companies active in defense and aerospace technology. L3Harris provides solutions for security, communications and space missions, with government and military customers around the world. The stock has gained almost 19% in 2025 and, despite offering a lower dividend (1.6%), represents a bet on future growth in an expanding sector, supported by investments in security and space.
