RBC Capital raised the firm’s price target on Goldman Sachs to $405 from $390 and keeps a Sector Perform rating on the shares after its Q1 earnings beat. A change in Federal Reserve monetary policy appears to be driving improvement in investment banking conditions, which should provide a much-needed tailwind to the company, while an exit from its money losing consumer banking businesses should eliminate a big distraction for management as well as improve its profitability, the analyst tells investors in a research note.
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