GOLDMAN: These Are The 40 Most Undervalued Stocks In The Market

David Kostin, Goldman Sachs' chief U.S. equity strategist, sees almost no upside to the S&P 500 from now through the end of the year.

However, within the market he sees no shortage of stocks and sectors expected to outperform.

In his new U.S. Monthly Chartbook, Kostin provided an updated list of stocks with the most upside potential today.

This time around, the list is dominated by oil and gas firms including drillers or refiners.  The rest are ringers across a broad range of industries, from tires to telecom.

According to Goldman's analysts, the 40 stocks on this list offer 23% to 57% upside relative to their recent prices.