BMO Capital raised the firm’s price target on Goldman Sachs to $360 from $349 and keeps a Market Perform rating on the shares. The analyst cites the company’s Q1 earnings beat driven by its Global Banking & Markets segment, with higher-than-previously modeled revenues and lower tax expenses more than offsetting higher expected compensation costs. BMO Capital is also raising its FY24 EPS view by $37.17 from $32.49 and its FY25 view to $38.62 from $37.53 for Goldman Sachs. The firm adds however that the stock’s valuation already incorporates the benefits of an anticipated capital markets recovery.
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