Nomura Securities Maintains a 'Buy' on Goldman Sachs (GS); Takeaways From Meeting with COO/CFO
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Price: $1,039.42 -0.31%
Rating Summary:
16 Buy, 23 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 23 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Goldman Sachs (NYSE: GS) price target of $145.00.
Analyst, Glenn Schorr, said, "The earnings backdrop is tough as clients are de-risking amidst macro uncertainty, so achieving a double-digit ROE won’t be easy. In 2011, GS reduced headcount, cut $1.4bn of non-comp expense, and spent more on buybacks than it earned. We think RWA mitigation will continue to unlock regulatory capital. In Europe, GS is seeing share gains as it sees real consolidation – some firms have exited businesses and Europe could be the firm’s biggest opportunity over the next 12-18 months. With GS trading $26 below tangible book, we think lackluster returns are more than priced in. 2012E/2013E EPS of $12.85/$14.00 vs the Street at $11.92/$13.06."
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 $98.04 yesterday.
Analyst, Glenn Schorr, said, "The earnings backdrop is tough as clients are de-risking amidst macro uncertainty, so achieving a double-digit ROE won’t be easy. In 2011, GS reduced headcount, cut $1.4bn of non-comp expense, and spent more on buybacks than it earned. We think RWA mitigation will continue to unlock regulatory capital. In Europe, GS is seeing share gains as it sees real consolidation – some firms have exited businesses and Europe could be the firm’s biggest opportunity over the next 12-18 months. With GS trading $26 below tangible book, we think lackluster returns are more than priced in. 2012E/2013E EPS of $12.85/$14.00 vs the Street at $11.92/$13.06."
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 $98.04 yesterday.
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