Latest news with #post-GFC
Yahoo
4 hours ago
- Business
- Yahoo
Bank of America Bullish on Goldman Sachs, Predicts Surge to $700
The Goldman Sachs Group, Inc. (NYSE:GS) is one of the best stocks for a retirement stock portfolio. On June 12, Bank of America reaffirmed its Buy rating on Goldman Sachs, highlighting the firm's ability to evolve with changing conditions, describing it as having 'proven DNA to adapt to an ever-changing world.' A close-up of a financial advisor giving advice to a customer, demonstrating the importance of consumer and wealth management. The bank set a price target of $700 per share, suggesting a 12% gain from June 11's closing price of $624.17. Analyst Ebrahim Poonawala noted The Goldman Sachs Group, Inc. (NYSE:GS)'s long track record of weathering challenging periods, pointing to the Paul Volcker era at the Federal Reserve and the 2008 financial crisis as moments that showcased 'a strong combination of scale and flexibility.' Poonawala made the following comment: '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.' He also projected ongoing strength in The Goldman Sachs Group, Inc. (NYSE:GS)'s trading revenue, which stood out in the bank's latest quarterly results. The analyst further stated: '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.' GS has surged by nearly 7% since the start of 2025. While we acknowledge the potential of GS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
Yahoo
5 hours ago
- Business
- Yahoo
Bank of America Bullish on Goldman Sachs, Predicts Surge to $700
The Goldman Sachs Group, Inc. (NYSE:GS) is one of the best stocks for a retirement stock portfolio. On June 12, Bank of America reaffirmed its Buy rating on Goldman Sachs, highlighting the firm's ability to evolve with changing conditions, describing it as having 'proven DNA to adapt to an ever-changing world.' A close-up of a financial advisor giving advice to a customer, demonstrating the importance of consumer and wealth management. The bank set a price target of $700 per share, suggesting a 12% gain from June 11's closing price of $624.17. Analyst Ebrahim Poonawala noted The Goldman Sachs Group, Inc. (NYSE:GS)'s long track record of weathering challenging periods, pointing to the Paul Volcker era at the Federal Reserve and the 2008 financial crisis as moments that showcased 'a strong combination of scale and flexibility.' Poonawala made the following comment: '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.' He also projected ongoing strength in The Goldman Sachs Group, Inc. (NYSE:GS)'s trading revenue, which stood out in the bank's latest quarterly results. The analyst further stated: '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.' GS has surged by nearly 7% since the start of 2025. While we acknowledge the potential of GS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
2 days ago
- Business
- CNBC
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.
Yahoo
20-05-2025
- Business
- Yahoo
As Longtime CEO Retires, Opus Unveils a Blueprint for the Future
Tim Murnane, Opus President & CEO, to retire after 38 years with the company; Matt Rauenhorst named his successor; Phil Cattanach to return as President & CEO of Opus Development Company MINNEAPOLIS, May 20, 2025 /PRNewswire/ -- Tim Murnane has announced his retirement as President & Chief Executive Officer of Opus, working through the end of 2026, at which time he will have given 38 years of service to Opus and 46 years in the commercial real estate industry. Matt Rauenhorst, currently President & Chief Executive Officer of Opus Development Company, has been selected by the Opus Board of Directors to succeed Murnane. A structured transition will take place over the next 18 months. Phil Cattanach, formerly of Opus, will return to assume the role of President & Chief Executive Officer of Opus Development Company upon Rauenhorst's succession to his new role. "We're navigating significant change at Opus, but through our ongoing succession planning discipline we're well prepared," said Bob Underhill, Chair, Opus Board of Directors. "Opus would not be what it is today without Tim Murnane's skillful leadership, real estate expertise and unwavering commitment to Opus and during his 38-year career here. It has been a joy and an honor working with Tim, and while it's difficult to envision our organization without him, I'm thrilled for him to be embarking on his next chapter. The entire Opus Board is confident in the vision and ability of both Matt Rauenhorst and Phil Cattanach as they take on their new roles in support of the next generation of Opus." Tim is a leader, mentor, entrepreneur and real estate expert who has made an indelible impact on Opus, its team and the broader industry during what will be his 38-year tenure. Aside from its founder, Gerry Rauenhorst, Murnane is the longest seated Chief Executive Officer in the organization's 73-year history. His development portfolio is remarkable, but perhaps most notable during his tenure is how, as President & Chief Executive Officer, he led and drove the post-GFC transformation of Opus and its business performance and success while positively impacting its team and preserving the best of its culture and core values. His commercial real estate career is storied and his development work, leadership efforts and commitment to community have had a collective ripple effect throughout the country, the industry and the Opus organization and team. "I'm grateful to the Rauenhorst family and the Opus organization for the opportunity I've had to lead and work alongside this outstanding team of professionals to deliver some pretty amazing real estate over the years, both as a development leader and as President & Chief Executive Officer," said Murnane. "Perhaps I'm most proud of how we've built a team who lives our core values, fosters the kind of culture folks want to be a part of and where associates understand their job is to both deliver for our clients while also continuing to build upon the legacy that Gerry started. I'm proud of what we've created working together." Rauenhorst will assume the role of President & Chief Executive Officer of Opus over the next 18 months in a two-part transition. Effective June 25, 2025, the President & Chief Executive Officer role will bifurcate into two roles. Rauenhorst will assume the role of President of Opus with primary accountability for business partner service functions, and Murnane will retain the role of Chief Executive Officer of Opus with primary accountability for the three subsidiary operating companies. They will work collaboratively to lead the business and organization in partnership through year end 2026 when Murnane retires. At that time, Rauenhorst will assume the full role of President & Chief Executive Officer of Opus with oversight of the collective executive leadership team inclusive of both the operating company leaders and business partner services leaders. "I've known Matt for over 20 years, and in that time I've had the opportunity to work with him and experience the tremendous value that he brings to Opus with his unique blend of skills, expertise and perspective. His strategic outlook, tenacity and drive for performance and results, combined with his strengths as a leader, who walks the talk when it comes to our values and culture, make him an excellent choice to lead this organization," said Murnane. "I'm excited for the opportunity to now partner with Matt, a great developer and leader, as he prepares to step into the role of President & Chief Executive Officer. I'm confident he's ready and well-poised to take Opus to the next level." Rauenhorst first began working within the Opus organization in 1997 as an hourly laborer in the shop, transitioned to union field labor in 1998 and in 2001 interned within the development team while pursuing his college degree. Upon graduation, he made the intentional decision to seek experience in real estate roles outside the organization, with Frauenshuh Commercial Real Estate, United Health Group and Habitat for Humanity, before returning to Opus in 2008 as Senior Director of Development. Rauenhorst went on to earn several promotions of increasing responsibility – in 2016 to Vice President of Real Estate Development; in 2019 to Executive Vice President of Real Estate Development; and in 2023 to President & Chief Executive Officer of Opus Development Company. His development portfolio and contributions during his tenure with Opus are vast as is his involvement externally in industry and community stewardship activities. Rauenhorst earned his Bachelor of Arts in entrepreneurship from the University of Saint Thomas and Master of Business Administration in real estate and urban land economics from the University of Wisconsin. "Tim's extraordinary in the way he leads people and develops real estate and relationships in support of the business and remarkable in how he's grown our culture and core values. I'm grateful to have had the chance to learn from Tim Murnane in my time here and now to get to work alongside him during this transition," said Rauenhorst. "Since my early years, I have aspired to this role and knew it would take decades of work to truly earn it, and I'm honored to now have the opportunity. The legacy that started with my grandfather, was nurtured by my father and transformed by Tim, is one that I'm thrilled to both preserve and also continue to evolve in a purpose-driven and client-centric way." Also on June 25, former Opus development leader Phil Cattanach will return to Opus to assume the role of President & Chief Executive Officer of Opus Development Company vacated by Rauenhorst as he succeeds Murnane. Cattanach will provide executive leadership and set the overall strategy for real estate development across the platform and directional oversight and leadership of the development team. His unique combination of skills, expertise and leadership combined with his previous experience at Opus collectively make him well suited to deliver success in this role. "In Phil's 16-year tenure with Opus, I've watched him consistently perform, deliver and seek opportunities to grow his capabilities. I've also seen his skills as an innovator, collaborator and coach and observed his commitment to our culture and core values through the work he does at Opus and in the community," said Murnane. "Phil is a great leader and developer, and we're fortunate to have him leading our development platform across the country." Cattanach originally joined the Opus organization in 2004 as an Associate Project Manager within the construction business after serving five years in the United States Army as a Platoon Leader and Company Executive Officer; he was later promoted to Project Manager after a serving another 18 months as an Army Company Commander. In 2013, he pivoted his career to a Senior Manager role within the Opus real estate development team, where his work earned him multiple subsequent promotions, each with increasing responsibility – Director in 2015, Senior Director in 2017, Vice President & General Manager in 2019 and Senior Vice President & General Manager in 2022. Cattanach has served as Executive Vice President of Commercial Development for United Properties for the past two years. Cattanach earned a Bachelor of Science in civil engineering from the United States Military Academy at West Point and a Master of Business Administration from the University of Saint Thomas, Opus College of Business. "I'm thrilled to have the opportunity to return to Opus in this new capacity," said Cattanach. "The way Opus delivers real estate for its clients is truly differentiated, as are the professionals doing the work and the values with which they do it. I'm excited to be back at the table as part of this vertically integrated team of experts, to be leading the real estate development platform nationwide and to be building on an amazing legacy. The future vision for Opus is inspiring and I see great potential ahead." Opus proactively maintains an ongoing succession practice to inform its Board of Directors and to provide continuity and clear direction during such transitions. Through that succession planning process multiple individuals were identified and thoughtfully evaluated for the role. Rauenhorst ultimately earned this promotion based on his combination of business acumen, real estate expertise and leadership skills, along with his consistent track record of achieving results while living our core values. His succession to this role also marks a meaningful milestone, as he will be the third Rauenhorst family member to hold the position, an honor previously held by his father and grandfather. About OpusOpus® is a group of commercial real estate development, design and construction companies headquartered in Minneapolis with offices and projects across the country. Opus operates as a vertically integrated multidisciplinary team with expertise in development, capital markets, finance, project management, construction, architectural design and engineering services. Opus includes Opus Holding and its operating subsidiaries: Opus Development Company, Opus Design Build and Opus AE Group. Specializing in industrial, residential, office, retail and institutional projects, Opus offers the unique combination of a design-build project delivery approach, driven by a client-centered team of experts and backed by enduring commitment to the community. For more information, visit and follow Opus on LinkedIn and Instagram. View original content to download multimedia: SOURCE Opus Sign in to access your portfolio
News.com.au
01-05-2025
- Business
- News.com.au
Election spendathon, inflation rate sees Aussies pay more on their mortgages
Households may face higher than expected mortgage rates as Wednesday's inflation reading and an election spendathon is likely to impact interest rates, experts have warned. According to AMP chief economist Shane Oliver Australians will still get a rate cut in May, but the total pace or rate reductions is likely to slow. 'The most likely outcome is they (the RBA) cut in May by 25 basis points, then cut in August by 25 basis points and possibly cut in November, but there will only be at most three this year,' he said. 'Whereas if I look at the money market it is saying four by November, which is probably a bit much, but I would concede we could have four by February 2026.' This comes as just a few weeks earlier some were calling for an emergency 50 basis point rate cut immediately as well as up to 5 rate cuts by the end of the year on the back of US President Donald Trump's tariffs on just about every trading partner. The US President later paused tariffs for 90 days on every country excluding China. 'Markets often overreact, if you go back a few weeks some were talking about an emergency meeting to make a 50 basis point cut. You could argue that was over the top,' Dr Oliver said. Dr Oliver also flagged Australia's all important trimmed mean inflation rate which came in at 0.7 per cent on Wednesday, higher than markets forecasts. 'The numbers weren't bad, but weren't as good as some were hoping,' he said. 'It was only 0.1 per cent higher, which you could argue is neither here nor there, but at the margins it has affected expectations on how much and how quickly the RBA will cut. CBA economist Gareth Aird agrees, saying there is a 'risk' the RBA could hold interest rates. Previously labelling a May rate cut as a 'done deal' if the figures came in line with his banks expectations, Mr Aird said the trimmed inflation was 'a touch firmer' than the bank's forecast of 0.6 per cent, which was also in line with the consensus of economists. 'The inflation data [released on Wednesday] is essentially in line with the RBA's forecasts and therefore the Board will consider the prices side of the economy evolving in line with its expectations,' he said. 'The case to normalise the cash rate to a more neutral setting remains, but we maintain that the Board will take a gradual approach in cutting rates despite CBA recently downgrading its forecast for the global economy.' Mr Aird also said he was still expecting a rate cut in May. If the two economists are correct, data by Canstar suggests borrowers with a $600,000 loan with 25 years remaining will save $91. Dr Oliver also took aim at the 'spendathon' from both parties saying higher spending increases inflation, meaning households spend more on their mortgages. In an update earlier this week S and P warned Australia's AAA credit rating faces pressure as soaring election promises and structural spending pushes the Australian deficit to post-GFC levels. 'Both sides of politics have engaged in a spendathon which has motivated S and P to come out and say it could lead to a credit downgrade,' Dr Oliver said. 'If the budget deficit blows out in a big way that means the government is competing with everyone else to borrow money in the economy and that pushes up interest rates, impacting households and business costs,' Dr Oliver said. 'If the rating agencies look at that and downgrade Australia, then the government will pay more for borrowing as government bond yields rise, which means when the banks borrow money they will have to pay more and that will be passed onto households.' Dr Oliver conceded both sides of politics would likely find budget savings to make sure Australia keeps its AAA rating. 'We are adding to debt and going back into a budget deficit which adds to debt, but our deficit is trivial compared to other countries,' Dr Oliver said. 'It may come in better. The numbers we have up until March are actually better than projected in the May budget. 'Australia's debt is 30 odd per cent of GDP, while in the US and elsewhere it's above 100 per cent of GDP. 'It remains a third or a half compared with other countries, so the risk isn't as great.
