Goldman Sachs' Discussions With Corporate Clients Are Robust - Analyst Highlights Year-To-Date Growth In North America & Europe
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst James Fotheringham maintained a Market Perform rating on Goldman Sachs Group, Inc. (NYSE:GS) and raised the price target from $357 to $360. The adjustment follows a Q4 earnings beat and a 2% increase in estimates for 2024 and 2025 EPS, reflecting higher Global Banking & Markets (GB&M) revenues. Fotheringham noted robust discussions with corporate clients and solid year-to-date activity in North America and Europe. However, he expressed concern over the volatility of GB&M revenues. Goldman Sachs' stock was trading slightly lower at $376.70.
January 18, 2024 | 7:17 pm
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NEUTRAL IMPACT
Goldman Sachs maintained a Market Perform rating by BMO with a raised price target to $360, following a Q4 earnings beat and positive outlook on capital markets recovery. Concerns remain over the volatility of GB&M revenues.
The price target increase and positive comments on capital markets recovery are likely to be viewed favorably by investors, but the concerns about revenue volatility from GB&M could temper any potential stock gains. The neutral score reflects the balance between positive and negative factors.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100