UPDATE: Jefferies Starts Goldman Sachs (GS) at Buy

June 9, 2021 5:43 AM EDT
Get Alerts GS Hot Sheet
Price: $302.70 -0.65%

Rating Summary:
    21 Buy, 16 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 9 | New: 24
Join SI Premium – FREE
(Updated - June 9, 2021 6:27 AM EDT)

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%+."

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 $384.70 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Related Entities

Goldman Sachs, Jefferies & Co