BMO Capital Raises Price Target on Goldman Sachs (GS) Following EPS Beat
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Rating Summary:
24 Buy, 17 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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BMO Capital reiterated an Outperform rating on Goldman Sachs (NYSE: GS), and raised the price target to $214.00 (from $197.00), following the company's 2Q earnings report. GS reported an EPS of $3.75 ahead of the consensus estimate of $3.04.
Analyst James Fotheringham commented, "GS's 2Q16 core EPS of $3.75 beat our $2.99 estimate by 25% and beat consensus of $3.04 by 23% (although consensus may not constitute a like-for-like comparison). Relative to our forecasts, 2Q16 was a top-line-driven beat: Investment & Lending (I&L) revenues came in $311 million above our forecast, Debt Underwriting (DCM) fees were $190 million better, and FICC Client Execution was $181 million higher. Relative to GS's 2Q16 reported EPS of $3.72, we calculate core EPS of $3.75 by adding back legal and regulatory costs (+$0.20), while stripping out the benefit of a low tax rate (-$0.17)."
For an analyst ratings summary and ratings history on Goldman Sachs click here. For more ratings news on Goldman Sachs click here.
Shares of Goldman Sachs closed at $161.41 yesterday.
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