Jefferies Reiterates Buy Rating on Goldman Sachs (GS)

July 19, 2022 8:05 AM EDT
Get Alerts GS Hot Sheet
Price: $294.62 --0%

Rating Summary:
    20 Buy, 18 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 3 | New: 12
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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)."

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 $301.26 yesterday.

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