Goldman Sachs said putting money into “value” stocks is the best way to bet on a vaccine for Covid-19 — upending what it says is conventional wisdom among most investors in the market, and offering a potential boost to one of the most unloved parts of the equity market.

In a research note, the bank said value shares — companies that look cheap — are the ones likely to rally the most if a coronavirus vaccine is found. Goldman said the current consensus among fund managers that cyclical stocks — companies whose prospects tend to rise or fall in line with the economy — are most likely to gain from a vaccine, is incorrect.