BMO Capital analyst James Fotheringham lowered the firm’s price target on Goldman Sachs to $414 from $429 but keeps an Outperform rating on the shares. The company reported a "messy" Q1 core credit beat, the analyst tells investors in a research note, adding that after three years of committing to a business mix intended to boost its earnings durability, Goldman Sachs looks no different with "elevated revenue volatility and limited cost flexibility". BMO Capital adds however that it remains positive on the stock given its valuation and the company’s ongoing tailwinds from share gains in core GB&M.
Published first on TheFly
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