Goldman Sachs Bears The Brunt Of Higher Compensation and Credit Costs: Analyst Cautions On Regulatory Uncertainty
Portfolio Pulse from Nabaparna Bhattacharya
Goldman Sachs Group (NYSE:GS) reported Q3 EPS of $5.47, down from $8.25 a year ago, beating the consensus of $5.31. BMO Capital Markets analyst James Fotheringham reiterated an Outperform rating on GS, with a price target of $421. However, due to higher compensation and credit costs, the analyst lowered out-year estimates by -2%. Regulatory uncertainty related to Basel 3 End-game proposals also dampens GS's outlook for 4Q23 share repurchases. GS shares are trading lower by 2.08% to $302.91.
October 18, 2023 | 6:43 pm
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Goldman Sachs faces higher compensation and credit costs, and regulatory uncertainty which may impact its share repurchases. Despite this, BMO analyst maintains Outperform rating with a price target of $421.
The news directly mentions Goldman Sachs and discusses its financial performance, analyst ratings, and future outlook. The higher costs and regulatory uncertainty may negatively impact its short-term stock price.
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