Goldman Sachs price target raised to $700 from $560 at RBC Capital

RBC Capital raised the firm’s price target on Goldman Sachs (GS) to $700 from $560 and keeps a Sector Perform rating on the shares as part of a broader research note on U.S. Banks, reflecting the firm’s latest outlook for Markets and Investment Banking revenues. RBC’s higher price target primarily reflects its profitability and risk assessment of the company relative to a peer group of similar companies, as well as the current economic expectations, the analyst tells investors in a research note.