This Is What Goldman Sachs (GS) Said about Its Pipeline of Deals

Goldman Sachs (GS) President John Waldron shared an optimistic view about the future of the bank’s investment banking division by saying that the overall outlook remains “quite good.” Speaking at an investor conference, Waldron explained that while markets are facing uncertainty, especially due to U.S. tariff policies, the bank still has a strong pipeline of deals around the world. The main challenge, he said, is the unpredictable timing of when those deals will close because of increased market volatility.

Even with some slowdown, Waldron said that companies are still actively talking about mergers, acquisitions, and ways to raise capital. He pointed out that although the broader M&A market has been sluggish, large deals valued at over $500 million have actually gone up by 30% so far this year. That shows that many companies are still confident and willing to make big moves, which supports the bank’s deal-making pipeline.

Interestingly, Waldron also admitted that activity in the second quarter has been slower than in the first. However, he noted that even after “Liberation Day” (when Trump first announced his reciprocal tariffs), Goldman Sachs has continued to work on several major and meaningful M&A transactions. Overall, Waldron’s comments suggest that despite recent headwinds, the bank remains well-positioned to benefit from future deal activity.

Is GS Stock a Good Buy?

Turning to Wall Street, analysts have a Moderate Buy consensus rating on GS stock based on eight Buys, seven Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average GS price target of $611.54 per share implies that shares are fairly valued.

See more GS analyst ratings