Goldman Sachs initiated with a Market Perform at BMO Capital

BMO Capital analyst Brennan Hawken initiated coverage of Goldman Sachs (GS) with a Market Perform rating and $785 price target The company has strong operating leverage and is positioned to benefit from the recovery in capital markets, the analyst tells investors in a research note. However, BMO believes much of the potential upside from Goldman’s improved returns, regulatory relief, and capital deployment appears already priced into the shares.