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Bank of America Loves Goldman Sachs (NYSE:GS) Stock

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Goldman Sachs gets a boost from Bank of America analysts, and warns job seekers to not turn to AI in interviews.

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.

Don’t Miss TipRanks’ Half-Year Sale

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

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