Goldman Sachs (GS) Stock Price Target Upped at BMO Capital
NEW YORK (TheStreet) -- Goldman Sachs (GS) - Get Report stock price target was raised to $214 from $197 at BMO Capital Markets. The firm has a "market perform" rating on shares.
The higher price target comes after the New York-based bank and financial holding company topped analysts' expectations for the 2016 second quarter yesterday.
Goldman reported earnings of $3.72 per share on revenue of $7.93 billion. Analysts were projecting earnings of $3 per share on revenue of $7.58 billion.
"Relative to our forecasts, 2Q16 was a top-line-driven beat: investment & lending (I&L) revenues came in $311 million above our forecast, debt underwriting (DCM) fees were $190 million better, and FICC Client Execution was $181 million higher," BMO wrote in an analyst note.
Shares of Goldman Sachs are increasing 0.44% to $162.12 in pre-market trading Wednesday.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. Among the primary strengths of the company is its expanding profit margins over time.
But the team also finds weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: GS