Tag Archives: Goldman

Goldman Sachs’ closely watched chief U.S. equity strategist David Kostin isn’t ruling out more upside for the stock market into year end, but he does acknowledge gains will be tougher to generate.  “You’ve got two big headwinds facing the market in the next six months that I think is likely to restrain the appreciation. The first issue is higher rates [interest]. The idea of higher rates is typically associated with some lower valuations,” Kostin said on Yahoo Finance Live.  Kostin says the… Source link

Goldman Sachs thinks it’s time to back up the dump truck on still fundamentally beat up industrial giant General Electric (GE).  The call: GE may not be so fundamentally beat up for much longer.  “We view GE as the ultimate self-help, re-opening levered story in Industrials,” said Goldman Sachs analyst Joe Ritchie in a new research note on Tuesday. The analyst slapped a $16 price target on GE’s stock, representing about a 22% upside from current levels.  Shares rose 1.3% to $13.06 in early… Source link

(Bloomberg) — The size and type of defaults that have occurred in China in recent times indicate that the notion of “too big to fail” may no longer apply to the nation’s borrowers, according to Goldman Sachs Group Inc. There has been a noticeable up-tick in defaults by Chinese state-owned enterprises since late 2019 and some of the borrowers that have failed to repay debt recently such as China Fortune Land Development Co. have had large amounts of outstanding bonds, analysts including… Source link

(Bloomberg) — Bitcoin and most other top cryptocurrencies fell on Sunday on concerns that there may be a further crackdown on the industry in China and as a report from Goldman Sachs Group Inc. served as a reminder that institutional adoption may be a long process. Bitcoin and many others in the top 30 cryptocurrencies excluding stablecoins declined in the past 24 hours as of 12:20 p.m. in London on Sunday, according to pricing data from CoinGecko, though No. 2 Ether was slightly higher…. Source link

TipRanks Goldman Sachs: These 3 Stocks Are Poised to Surge by Over 100% Markets are beset by volatility, with unpredictable swings making recent sessions something of a roller coaster. The main indexes were falling sharply at the end of last week, but Friday’s release of economic data showing strong manufacturing activity provided a boost that pared back the market losses somewhat. The recent earnings season also gave reason for optimism – the S&P listed companies, collectively, reported… Source link

It’s time to take bitcoin way more seriously as an investable asset, says Goldman Sachs.  “Bitcoin is now considered an investable asset. It has its own idiosyncratic risk, partly because it’s still relatively new and going through an adoption phase,” said Mathew McDermott, Goldman Sachs’ global head of digital assets, in a new piece of research. “And it doesn’t behave as one would intuitively expect relative to other assets given the analogy to digital gold; to date, it’s tended to be… Source link

Goldman Sachs thinks the surprisingly lackluster April jobs report could be partially explained on the generosity of Uncle Sam.  “We see two partial explanations for the payrolls disappointment. First, reopening effects likely overlapped with normal seasonal hiring patterns, resulting in less-impressive job gains on a seasonally-adjusted basis. Second, labor supply appears to be tighter than the unemployment rate suggests, likely reflecting the impact of unusually generous unemployment… Source link

With corporate cash balances looking flush again as businesses recover from the depths of the COVID-19 pandemic, Goldman Sachs (GS) strategist David Kostin thinks a stock buyback “bonanza” is on the horizon.  Kostin estimates a 35% increase in share buybacks this year and a 5% pop in 2022. Share buybacks from U.S. companies through April have tallied $484 billion, more than double the pace at this same point last year. It marks the quickest pace of U.S. buyback announcements to kick off a… Source link

TipRanks 2 Dividend Stocks Yielding at Least 7%; Analyst Says ‘Buy’ The stock market pulled back from all-time highs this week, as investors paused to consider just what’s been goosing stocks – and what the future may hold. A flood of stimulus cash, unleashed by the Biden Administration’s big spending bills, is set to push GDP growth to 9% for 3Q21, but next year looks like it will slip back as the spending runs its course. Economists are predicting 5.5% GDP growth next year. This… Source link

RIP, SPAC (Special Purpose Acquisition Company) craze.  Going public via a SPAC became all the rage late in 2020 and into 2021 because of its relative ease versus the traditional IPO route and the fact everyone on the Street seemed to be doing it. Now the process has darn near crashed.  New research out from Goldman Sachs strategist David Kostin on Thursday shows that only six new SPAC IPOs have come to market in the second quarter of 2021. For context, Goldman notes, at this point in the… Source link