Wells Fargo analyst Mike Mayo raised the firm’s price target on Goldman Sachs (GS) to $420 from $393 and keeps an Overweight rating on the shares. Goldman is working toward a 15% ROE with best-in-class capital markets growth over the past 4 years, repositioning of wealth/asset management, and disposition of non-core activities, the firm notes. Wells favors Goldman over Morgan Stanley (MS).
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