Argus raised the firm’s price target on Goldman Sachs (GS) to $863 from $765 and keeps a Buy rating on the shares. The company’s Q3 earnings beat demonstrated strong activity in investment banking fees and for fixed income, commodities and currencies, the analyst tells investors in a research note. The investment banking environment, which offered a few false starts in 2023 and 2024, has rebounded from Q1 tariff-related market turmoil and uncertainty that paused deal activity, the firm added, noting that the M&A backdrop has also become more constructive with greater deal activity.
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