Latest news with #EbrahimPoonawala
Yahoo
14-06-2025
- 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
14-06-2025
- 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
Globe and Mail
13-06-2025
- Business
- Globe and Mail
Bank of America Loves Goldman Sachs (NYSE:GS) Stock
New analyst reports out from Bank of America are absolutely enamored with bank stock Goldman Sachs (GS), and are keeping their Buy rating absolutely in place. There is quite a bit to like about Goldman Sachs, and the report is spelling it out plainly. Investors are giving Bank of America the benefit of the doubt, and sent Goldman Sachs shares up fractionally in Thursday afternoon's trading. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Bank of America analyst Ebrahim Poonawala, who has a five-star rating on TipRanks, kept the Buy rating in place and also set a $700 per share price target on Goldman Sachs shares. That is a 12% upside against the closing price on Wednesday, reports note, which came in at $624.17 per share. Poonawala took particular pains to call out Goldman Sachs' extensive history, noting that it has '…proven DNA to adapt to an ever-changing world.' Poonawala also pointed out Goldman Sachs' background in surviving economic downturn, including the 2008 financial crisis as well as the entirety of Paul Volcker's tenure at the Federal Reserve, running from 1979 to 1987. Further, Poonawala cited '…a strong combination of scale and flexibility' as reasons to get behind—and stay behind—Goldman Sachs. Job Hunters, Stay Off the AI In an odd twist, Goldman Sachs took an unusual stance when it comes to using artificial intelligence (AI), particularly during job interviews. While many companies are requiring a certain amount of AI fluency just to get in the door, Goldman Sachs is warning job seekers not to turn to use it during interviews. In fact, reports noted, those caught doing so may actually be disqualified from seeking work with the company. Given that half of Goldman Sachs' own employees have full access to AI, this might seem odd, even hypocritical. Back in January, we discovered that Goldman Sachs even has its own internal generative AI tool known as GS AI. But Goldman Sachs asserts that the responses are not 'tailored and unique to the individual,' and thus, may actually do more harm than good. Is Goldman Sachs a Buy, Sell or Hold? Turning to Wall Street, analysts have a Moderate Buy consensus rating on GS stock based on eight Buys and seven Holds assigned in the past three months, as indicated by the graphic below. After a 39.84% rally in its share price over the past year, the average GS price target of $611.54 per share implies 1.96% downside risk. See more GS analyst ratings Disclosure
CNBC
12-06-2025
- 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.
Business Insider
01-06-2025
- Business
- Business Insider
Canadian Bank of Commerce (CM) Gets a Buy from Bank of America Securities
Bank of America Securities analyst Ebrahim Poonawala maintained a Buy rating on Canadian Bank of Commerce (CM – Research Report) on May 29 and set a price target of C$101.00. Confident Investing Starts Here: Poonawala covers the Financial sector, focusing on stocks such as JPMorgan Chase, Morgan Stanley, and US Bancorp. According to TipRanks, Poonawala has an average return of 11.3% and a 66.27% success rate on recommended stocks. In addition to Bank of America Securities, Canadian Bank of Commerce also received a Buy from Desjardins's Douglas Young in a report issued yesterday. However, on the same day, Barclays maintained a Sell rating on Canadian Bank of Commerce (NYSE: CM). Based on Canadian Bank of Commerce's latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $7.25 billion and a net profit of $2.16 billion. In comparison, last year the company earned a revenue of $6.21 billion and had a net profit of $1.72 billion Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CM in relation to earlier this year.
