UPDATE: Jefferies Starts Goldman Sachs (GS) at Buy
- Wall Street slips as jobs growth boosts rate hike bets
- Rebound in Stocks is Limited, Fade Any Further Squeeze; Stay Bullish on Dollar - Citi
- 5 Top AMD Analysts Reflect on Preliminary Results, Shares Down 5%
- Weekly Inflow to Cash of $88.8 Billion Was Highest Since Pandemic - BofA
- Oil up 3% to 5-week high on more lift from OPEC+ output cut
Jefferies analyst Daniel Fannon initiates coverage on Goldman Sachs (NYSE: GS) with a Buy rating and a price target of $450.00.
The analyst comments "We initiate on Goldman Sachs (GS) with a Buy rating and a 12-month PT of $450. A rising contribution from more durable revenue streams and more efficient internal capital allocation should drive sustainably higher returns and multiple expansion. Market share gains, improved efficiencies, and new growth initiatives are key to driving an ROTCE of 14.3% in 2023 (JEF $41.75 EPS est; +7% vs consensus), consistent with GS's mediumterm goal of 14%+."
Shares of Goldman Sachs closed at $384.70 yesterday.
You May Also Be Interested In
- UPDATE: Jefferies Upgrades Progressive Corp. (PGR) to Buy
- Chewy (CHWY) Pullback Represents an Attractive Entry Point - Oppenheimer
- UPDATE: Oppenheimer Starts Chewy Inc. (CHWY) at Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesGoldman Sachs, Jefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!