Analysts’ activity

After Goldman Sachs (GS) posted mixed first-quarter results yesterday, KBW lowered its target price to $210 from $215, and BMO reduced it to $260 from $262. However, Morgan Stanley increased its target price to $218 from $207.

Of the 25 analysts covering the Goldman Sachs, 13 recommend “hold,” ten recommend “buy,” and two recommend “sell.” Their target price of $230 per share implies a 15.1% upside based on its April 15 closing price of $199.91. Most analysts covering Wells Fargo (WFC) and JPMorgan Chase (JPM) recommend “hold,” and most covering Bank of America (BAC) and Citigroup (C) recommend “buy.”

How Analysts Reacted to Goldman’s Q1 Results

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Stock performance

Goldman Sachs stock had risen 19.7% this year as of yesterday, and its forward PE multiple of 8.2x was ~23% lower than its historical average of 10.6x. The bank’s lower valuation has boosted its stock. In comparison, Wells Fargo, JPMorgan Chase, Bank of America, and Citigroup stock had risen 1.5%, 12.6%, 21.1%, and 29.4%, respectively.

Latest articles

German chip maker Infineon Technologies has reportedly raised 1.55 billion euros (~$1.74 billion) in capital by selling its shares to fund its acquisition of Cypress Semiconductor (CY). Infineon has sold ~113 million new shares at 13.70 euros each.

As of June 18, Dunkin’ Brands (DNKN) was trading at $80.07, an 8.9% rise since reporting its first-quarter earnings on May 2. Also, DNKN was trading at a premium of 29.8% from its 52-week low of $61.69 and a discount of 1.6% from its 52-week high of $81.40.

19 Jun

Are Lower Oil Prices Weighing on ExxonMobil Stock?

WRITTEN BY Maitali Ramkumar

ExxonMobil (XOM) stock has fallen 7.1% in the second quarter so far. Let's review ExxonMobil's stock performance in comparison to oil price changes and equity market movements in the quarter.

19 Jun

As Facebook Unveils Libra, MSFT and CRM Join a Blockchain Group

WRITTEN BY Mayur Sontakke, CFA, FRM

On June 18, Facebook (FB) launched Libra, its own cryptocurrency. On the same day, CoinDesk published another piece of blockchain news that didn’t receive as much fanfare as Facebook’s Libra news. Was the timing a coincidence? We think not.

Uber Technologies (UBER) has picked Melbourne as another test site for its flying taxi service known as UberAir. The Australian city is the first international test site Uber has chosen for its flying taxi service. The addition of Melbourne brings the number of test locations Uber has picked for its UberAir service to three.

Lyft (LYFT) and Uber Technologies (UBER) are pushing back against California legislation that would require them to recognize their drivers as employees rather than independent contractors. The legislation would require companies like Lyft to give their drivers the compensation and benefits spelled out under California’s employment regulations.

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