Bank of America analyst really loves this Wall Street stock, sees it rallying to $700
Goldman Sachs has "proven DNA to adapt to an ever-changing world," according to Bank of America. The firm reiterated a buy rating on the investment bank on Wednesday, alongside a $700 per share price target, which represents 12% upside from Wednesday's $624.17 close. Analyst Ebrahim Poonawala said Goldman has a storied history of navigating turbulent periods. He cited the Paul Volcker-led Federal Reserve era and the 2008 financial crisis as examples, saying these times demonstrated "a strong combination of scale and flexibility." Poonawala said he expects continued strength in Goldman's trading revenue, which was a highlight of the company's most recent quarterly report . "A sea change in the macro backdrop (interest rates, geopolitics) vs. post-GFC [Great Financial Crisis] years combined with a strategy that is focused on deepening client relationships (via financing) has increased the resiliency of trading revenues," Poonawala said. "Despite the inherent unpredictability, trading revenues have grown in six out of the last seven years after bottoming in 2017 (coinciding with a shift in Fed policy)." GS YTD mountain Goldman Sachs stock in 2025. The private credit space is another potential opportunity for further growth, the analyst said. He expects Goldman is relatively well positioned to handle any potential volatility in the sector. "Goldman's presence in the private credit space dating back to the mid-90s, history of strong risk management (superior client selection) should reduce the risk from any potential credit volatility in this space," the analyst said. Shares have added 9% in 2025, and have gained about 4% in June.
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CNBC
36 minutes ago
- CNBC
Here are Friday's biggest analyst calls: Nvidia, Apple, Tesla, Netflix, Adobe, Coinbase, Microsoft, Oracle & more
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Wolfe downgrades GE Vernova to peer perform from outperform Wolfe downgraded the stock on valuation. "We are downgrading GEV from OP to PP rating." Oppenheimer reiterates Coinbase as outperform Oppenheimer said it's feeling even more bullish on the stock following the company's 2025 Coinbase State of Crypto Summit. "We believe COIN can command a valuation premium compared to HOOD, and will take advantage of current dislocation to get blockchain exposure." Bank of America reiterates Advanced Micro Devices as buy Bank of America says AMD is establishing itself as the "next-best AI vendor." "We attended AMD's Advancing AI Event in San Jose where AMD provided an update to its end-to-end AI infrastructure platform. Similar to last AI event in Oct-2024, investor expectations might have been high, but we highlight its continued execution in AI roadmap, customer/ecosystem proliferation, and software maturity." 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Politico
an hour ago
- Politico
What Goldman CEO David Solomon is thinking
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Annual resources to the highest-income households would climb by $12,000. — The CBO and projections from the Penn Wharton Budget Model and Yale Budget Lab have consistently estimated that the legislation will add to the deficit over the next decade. Treasury Secretary Scott Bessent told Senate Finance lawmakers on Thursday that he expects the opposite to occur, per Bloomberg's Cam Kettles. — From Yahoo Finance's Ben Werschkul and David Foster: 'The claims from 1600 Pennsylvania Avenue go as high as $8 trillion in black ink (an $11 trillion chasm with the experts) in claims that go beyond what even Capitol Hill Republicans are projecting … As for reconciling the two, some economists essentially throw up their hands.' Mad-libbing SALT — Senate Republicans may leave out the House's higher state-and-local tax deduction from its version of the bill in order to allow negotiations to continue. Senate Finance Chair Mike 'Crapo and I had a long conversation about it,' said Sen. Markwayne Mullin (R-Okla.) per Benjamin Guggenheim and Jordain Carney. 'Maybe it'd be better to just carry communication rather than stake our flag right down.' Not so fast — Senate Banking Chair Tim Scott (R-S.C.) threw cold water on Texas Republican Sen. Ted Cruz's effort to include language in the megabill that would bar the Fed from paying interest to banks, Jasper Goodman and Victoria Guida report. Next step in stablecoins — Jasper also reports that the Senate's landmark stablecoin legislation moved one step closer to passage on Thursday, clearing a procedural vote 67-30. At the regulators New IRS chief — The Senate voted along party lines to confirm Billy Long to be the next head of the Internal Revenue Service. The former six-term Missouri congressman will enter the tax agency 'during a period of upheaval' due to workforce reductions and an overhaul of its technology systems, reports Bernie Becker. Regulatory uncertainty — The pace and volume of regulatory shifts that have occurred so far this year are creating 'unanticipated business risks,' according to KPMG's mid-year report. 'Growing regulatory divergence and fragmentation add another layer of complexity to establishing a clear path from strategy and operations to effective risk and compliance,' Amy Matsuo, the consulting firm's U.S. regulatory insights leader, said in a statement. 'Will a deregulatory policy really equate to deregulation?'
Business Wire
an hour ago
- Business Wire
As Markets Teeter, EBC's David Barrett Calls for Caution, Lower Leverage, and Strategic Gold Allocation
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