BUZZ-KBW downgrades Goldman Sachs to 'market perform' amid economic uncertainties

Reuters
02-27
BUZZ-KBW downgrades Goldman Sachs to 'market perform' amid economic uncertainties

** KBW downgrades Goldman Sachs GS.N to "market perform" from "outperform" rating

** Brokerage says GS is at peak valuation with potential headwinds against strong market expectations, due to market uncertainty surrounding tariffs, inflation, interest rates and government policies

** KBW adds uncertainties have led to a disappointing start of the year in investment banking

** Brokerage cuts PT to $660 from $690, which still represents a 6.8% upside to stock's last close

** 13 of 22 brokerages rate the stock "buy" or higher, 9 "hold"; their median PT is $660 - data compiled by LSEG

** As of last close, stock up ~7.9% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))

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