Goldman Sachs price target raised to $592 from $570 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Goldman Sachs (GS) to $592 from $570 and keeps an Equal Weight rating on the shares. The firm is raising its “money center” bank EPS forecasts as announced M&A and equity capital markets volumes are accelerating. The firm, which sees capital markets momentum ahead driven by market conditions, regulatory clarity, pent up demand for both M&A and IPOs, and greater sponsor engagement, is raising its money center price targets 2%-4%.