RBC Capital analyst Gerard Cassidy lowered the firm’s price target on Goldman Sachs (GS) to $560 from $610 and keeps a Sector Perform rating on the shares. The company’s Q1 earnings beat was driven by record equity trading results, while its management has also intensified its focus on building consistent revenues by growing its wealth and asset management fees and its private banking and lending businesses, the analyst tells investors in a research note. RBC adds however that its price target cut reflects the current market conditions.
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Read More on GS:
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