Wells Fargo on Goldman Sachs' (GS) Q2 Results: Not That Impressed And Here's Why...

Wells Fargo maintains a 'Market Perform' on Goldman Sachs (NYSE: GS).

Analyst, Matthew H. Burnell, said, "Q2 GAAP EPS of $1.78 versus our/consensus of $0.85/$1.12. Relative to our expectations, results surprised on a swing in Investing & Lending and better performance in investment banking. Total revenues were $6.6B, down 33% from Q1 levels, while ROE was 5.4% for Q2, a lackluster performance, in our view. We could expect a lift in GS shares due to the outperformance relative to consensus, but we are tempered by the lack of catalysts going forward if the current market volatility/uncertainty persists."

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 $97.68 yesterday.

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