Goldman Sachs Upgraded to 'Buy' as Earnings Surpass Expectations

The Goldman Sachs Group Inc (NYSE:GS) has received a boost in its stock rating from Wall Street Zen, which upgraded it to 'buy' from 'hold'. This move follows other analysts who have also made positive predictions about the company's performance.

As reported by Wall Street Zen, several other analysts have issued upgrades and price targets for GS. Evercore reaffirmed an 'outperform' rating on shares of The Goldman Sachs Group, while Keefe, Bruyette & Woods boosted their target price from $1,050 to $1,130.

HSBC also upgraded shares of The Goldman Sachs Group from a 'hold' rating to a 'strong-buy' rating. UBS Group lifted its price objective on The Goldman Sachs Group from $1,120 to $1,150 and gave the stock a 'neutral' rating.

The upgrade comes as GS reported strong earnings for the quarter, topping analysts' consensus estimates of $14.47 with $20.98 in earnings per share.