Goldman Sachs price target raised to $479 from $466 at Oppenheimer

Oppenheimer analyst Chris Kotowski raised the firm’s price target on Goldman Sachs to $479 from $466 and keeps an Outperform rating on the shares following quarterly results. While Goldman cautions that its investment banking backlog fell in the quarter because of Q1’s strong transaction volumes, Oppenheimer does still think that private equity sponsors remain relatively inactive and that there is considerable upside to activity levels from here over time. The results also gave the firm increased confidence that after a lot of special charges last year, 2024-2025 will be a lot cleaner.