Goldman Sachs price target raised to $418 from $410 at Evercore ISI

Evercore ISI analyst Glenn Schorr raised the firm’s price target on Goldman Sachs to $418 from $410 and keeps an Outperform rating on the shares following what the firm calls “not as bad of a quarter as we feared.” The biggest takeaways from the call were management’s focus on driving the efficiency ratio below the 65% jumping off point in Q4 and a different perspective on how baseline revenues and more durable revenues, as defined by Goldman, have grown, the analyst tells investors. Momentum is building as growth in asset management, higher I-Banking activity and building IB pipelines “give some hope,” the analyst added.