Goldman Sachs price target lowered to $1,050 from $1,100 at BofA

BofA analyst Ebrahim Poonawala lowered the firm’s price target on Goldman Sachs (GS) to $1,050 from $1,100 and keeps a Buy rating on the shares. While Q1 results were “solid,” the firm believes the stock suffered from high expectations and sees a “handful of items in 1Q results that are likely to give investors a pause from adding exposure to the stock while they await results from peer banks over the next two days.” Following the report, the firm revised Q2-Q4 and FY27 EPS estimates lower by 2%-3% on slower revenue growth.