Barron's Sees Goldman (GS) Higher by 25%
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Shares of Goldman Sachs (NYSE: GS) are moving higher on Monday after a Barron's cover story article said that the negative perception surround the firm is "more dour than reality justifies," and that "it is easy to conclude that the shares could rise at least 25% within a year."
Like other large banks, shares of Goldman trade at a discount to tangible book value, and its shares have been hit thanks to uncertainty over regulation, lower leverage, and reputational damage. Trading and deal volumes have also been soft. However Barron's thinks the long-term backdrop continues to suggest that global capital flows will quicken again, and as a result Goldman Sachs investors could benefit.
Investors can buy Goldman Sachs shares for 90% of current tangible book value, and that is bout 75% of what book value likely will be in a couple of years, concluded Barron's.
Shares of Goldman Sachs last traded at $118.27, up 4 percent.
Like other large banks, shares of Goldman trade at a discount to tangible book value, and its shares have been hit thanks to uncertainty over regulation, lower leverage, and reputational damage. Trading and deal volumes have also been soft. However Barron's thinks the long-term backdrop continues to suggest that global capital flows will quicken again, and as a result Goldman Sachs investors could benefit.
Investors can buy Goldman Sachs shares for 90% of current tangible book value, and that is bout 75% of what book value likely will be in a couple of years, concluded Barron's.
Shares of Goldman Sachs last traded at $118.27, up 4 percent.
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