Jefferies Reiterates Buy Rating on Goldman Sachs (GS)
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Jefferies analyst Daniel Fannon reiterated a Buy rating and $355.00 price target on Goldman Sachs (NYSE: GS) following strong Q2 results.
The analyst commented, "Following strong 2Q22 results, our EPS est's for 3Q22/4Q22 decrease to $7.92/$7.27 from $8.37/$7.68, while our FY23 est is unchanged. This mostly reflects moderately lower IB/trading activity in 2H22. Mgmt pointed to an elevated focus on non-comp costs amidst a more uncertain macro backdrop. In addition, mgmt highlighted a more balanced trade-off between buybacks and balance sheet opportunity given the more attractive valuation (1.0x TBV)."
Shares of Goldman Sachs closed at $301.26 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesGoldman Sachs, Jefferies & Co
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