UBS analyst Brennan Hawken downgrades $Goldman Sachs (GS.US)$ to a hold rating, and adjusts the target price from $535 to $610.
According to TipRanks data, the analyst has a success rate of 61.4% and a total average return of 13.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Goldman Sachs (GS.US)$'s main analysts recently are as follows:
The firm maintains a positive outlook on bank stocks into 2025, anticipating accelerated earnings growth driven by factors such as enhanced loan growth, increased activity in capital markets, the return of positive operating leverage, and share buybacks. Additionally, the firm projects that price-to-earnings multiples will expand, supported by a stable economic environment, reduced regulations, higher returns, and mergers and acquisitions. It is argued that large-cap banks will likely outperform the market into 2025 as earnings growth picks up pace.
For the banking sector, the projection into 2025 appears solidified, with only slight modifications to earnings models and estimates noted. Analyzing further into 2028, banks are anticipated to optimize their growth potential while maintaining a low-to-mid-teens return on tangible common equity. There is a general skepticism regarding the potential for a more lenient regulatory and capital framework moving forward. The sector is deemed to be reasonably valued, though certain opportunities still exist.
Note:
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