Goldman Sachs Stock Price Target Reduced by UBS Group

The Goldman Sachs Group (NYSE:GS) saw its stock price target lowered by UBS Group from $1,150.00 to $1,010.00 in a report issued on Monday. UBS maintained a “neutral” rating on the stock, suggesting a potential upside of 13.04% from its current price.

Other analysts have also recently weighed in on GS. Oppenheimer downgraded the stock from “market perform” to “underperform” on June 30th, while Bank of America raised its price target from $1,150.00 to $1,300.00 with a “buy” rating on July 16th. Barclays increased its target from $1,048.00 to $1,245.00 with an “overweight” rating on July 15th. Evercore reiterated an “outperform” rating on July 6th, and Citigroup cut its target from $1,200.00 to $1,050.00 with a “neutral” rating on September 23rd.

Currently, the stock has an average rating of “Hold” with a consensus target price of $1,066.60. During midday trading on Monday, GS stock fell $9.04 to $893.52, with a trading volume of 1,896,422 shares. The company reported strong quarterly earnings of $20.98 per share on July 14th, beating estimates by $6.51, and revenue of $20.34 billion, up 39.4% year-over-year.

Institutional investors have been active in adjusting their holdings. BlackRock Inc. purchased a new position worth approximately $24,172,123,000 during the second quarter, while State Street Corp boosted its stake by 2.1% during the fourth quarter. Bank of America Corp DE acquired a new stake worth $6,756,772,000 in the second quarter, and Corient Private Wealth LLC grew its position by 1,657.7% in the fourth quarter.