UPDATE: JMP Securities Upgrades Goldman Sachs (GS) to Market Outperform

(updating comment)

JMP Securities analyst Devin Ryan upgraded Goldman Sachs (NYSE: GS) from Market Perform to Market Outperform with a price target of $290.00.

The analyst comments "We believe Goldman Sachs is in the early stages of one of the most meaningful transformations within financial services, and we are bullish on its ability to execute from here. It has been our view that even though sentiment has been turning more positive, and the stock performance has been improving with shares up 38% in 2019 and already 5% thus far in 2020 vs. 29% and 1% for the S&P 500, respectively – so, we’ve missed a bit of the move – we still believe the market is underappreciating, or even dismissing, the evolution and growth shift occurring at the firm."

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 $242.11 yesterday.

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