Overview

• US investment bank's Q2 revenue rose sharply, beating analyst expectations

• Adjusted EPS for Q2 beat analyst expectations

• Company raised quarterly dividend to $5.00 per share for Q3

Result Drivers

• GLOBAL BANKING & MARKETS - Co said revenue growth was driven by significantly higher net revenues in Global Banking & Markets, including investment banking fees, equities, and fixed income

• ASSET & WEALTH MANAGEMENT - Higher assets under supervision and investment gains contributed to increased Asset & Wealth Management revenue, partially offset by lower net revenues in private banking and lending

• LOWER CREDIT LOSSES - Provision for credit losses fell compared to prior year, reflecting fewer impairments related to wholesale loans

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 14 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the investment banking & brokerage services peer group is "buy."

• Wall Street's median 12-month price target for Goldman Sachs Group Inc is $1,049.00, about 0.3% above its July 13 closing price of $1,045.91

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 14 three months ago

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