HSBC lifts Goldman Sachs price target to USD 1,007 on strong earnings

HSBC has adjusted its outlook for Goldman Sachs, raising its price target from USD 995.00 to USD 1,007.00 while maintaining a Hold rating. The update, announced in a September 28, 2026 analyst note, reflects a backdrop of cautious expectations for capital-markets earnings and rising costs. HSBC cited rising global yields and renewed fiscal concerns as factors influencing bank sentiment.

Goldman Sachs reported strong second-quarter 2026 results, with net revenue of USD 20.34 billion, a 39.50% increase from the same period in 2025. Diluted earnings per share reached USD 20.98, and net earnings totaled USD 6.40 billion. The results exceeded consensus expectations for both earnings per share and revenue, according to Yahoo Finance.

The company's annualized return on common equity stood at 23.50% for the second quarter. However, Goldman Sachs faces challenges in sustaining this growth, as management has highlighted softer fixed-income trading and higher costs. The next earnings report is scheduled for October 13, 2026.

As of October 2, 2026, Goldman Sachs had a market capitalization of USD 266.3 billion, with a 52-week range of USD 740.01 to USD 1,153.99. On October 5, 2026, the stock was trading at EUR 806.30 on Lang & Schwarz, up 0.49% from the prior close of EUR 802.40.