Goldman Sachs price target raised to $375 from $339 at RBC Capital

RBC Capital raised the firm’s price target on Goldman Sachs to $375 from $339 but keeps a Sector Perform rating on the shares after its Q1 earnings beat. The investment banking industry and the company have suffered from continued weakness, but the business will eventually recover and Goldman Sachs will big one of the biggest beneficiaries when it does, the analyst tells investors in a research note. RBC adds that harvesting gains from its equity and debt investment while growing its Asset & Wealth Management and Platform Solutions businesses will be drivers of revenue growth for Goldman Sachs in the near term.