BUZZ-"Brokerage Opinion": Goldman Sachs continues to gain momentum with strong M&A capabilities and robust revenue growth.

October 14 - ** Goldman Sachs GS.N reported on Tuesday that its third-quarter profit (link) exceeded market expectations, thanks to robust merger and acquisition activity as well as increased equity trading income driven by market volatility stemming from the Middle East conflict.

** The median target price given by 24 brokers covering the stock is $1,050 — data compiled by London Stock Exchange Group (LSEG).

Project backlog fuels market optimism

** Barclays (rated "Overweight", target price: $1,245) stated that although fourth-quarter trading activity typically slows down, Goldman Sachs' investment banking backlog remains very strong, supported by a healthy supply of M&A and equity capital market transactions in the pipeline.

** “Goldman Sachs is expected to be one of the biggest beneficiaries within our coverage from the artificial intelligence investment cycle,” said Barclays.

** Jefferies (rating "Buy", target price: $1,088) said that strong performance in the asset and wealth management business is driving profit expectation upgrades, and that a positive outlook for its global banking and markets segment should support trading activity and investment banking opportunities.

** TD Cowen (“Buy”, target price: $1,050) said the firm remains confident in the adjustments Goldman Sachs has made to strengthen its business model, and believes it has significant growth potential, particularly as investment banking recovers.

** Citizens (“Market Perform”) said Goldman Sachs’ strong quarterly results provide it with solid earnings momentum and ample capital to support fourth-quarter client business.

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