Goldman Sachs (GS) Surpasses Earnings Expectations, Target Price Raised

Oct 17, 2024

Bank of America Securities has reported that Goldman Sachs (GS, Financial) achieved an earnings per share (EPS) of $8.4 for the third quarter, exceeding both the bank's own estimate of $7.13 and the market consensus of $7.39. This outperformance is largely attributed to stronger capital market results.

In light of this, Bank of America Securities has raised its EPS forecasts for Goldman Sachs for the fourth quarter of the 2024 fiscal year and the 2025 fiscal year by 8.7% and 3.2%, respectively, to $8.09 and $41.68. The target price for the stock has been increased from $563 to $575 with a "buy" rating.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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