Goldman Sachs price target raised to $470 from $460 at HSBC

HSBC analyst Saul Martinez raised the firm’s price target on Goldman Sachs to $470 from $460 and keeps a Buy rating on the shares. The analyst increased estimates following Goldman’s “broad-based beat” in Q1. Though macro uncertainty remains, higher investment banking fees and “self-help” should contribute to ongoing return on tangible common equity improvements, the analyst tells investors in a research note. HSBC calls Goldman its preferred vehicle to invest in improved capital markets activity.