Goldman Sachs price target raised to $805 from $762 at UBS

UBS raised the firm’s price target on Goldman Sachs (GS) to $805 from $762 and keeps a Neutral rating on the shares. Bank stocks delivered strong Q2 gains, with share price appreciation outpacing estimate revisions by roughly fivefold, driven by deregulation, improving capital markets activity, and solid loan growth, the analyst tells investors in a research note. The Fifth Third (FITB)/Comerica (CMA) merger may reignite interest in regional banks, particularly if management signals a rebound in middle-market C&I lending and NIM improvement from a steepening yield curve, though selectivity is warranted after the recent rally, the firm says.