Goldman Sachs (GS) PT Raised to $479 at Jefferies

Jefferies analyst Daniel Fannon raised the price target on Goldman Sachs (NYSE: GS) to $479.00 (from $450.00) while maintaining a Buy rating.

The analyst commented, "Following strong 3Q21 results, our EPS estimates for 4Q21 and 2022 increase to $12.48 and $41.50, up from $9.33 and $37.50, respectively. These changes reflect higher IB activity in the short term and greater comp leverage than previously anticipated. Momentum across the business segments remains positive and the YTD efficiency ratio of 52.8% (52.1% ex-litigation) is tracking well below the ~60% medium-term target."

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