UPDATE: ISI Group Reiterates Hold Rating, Raises PT on Goldman Sachs Group
In a report published Friday, ISI Group reiterated its Hold rating on Goldman Sachs Group (NYSE: GS), and raised its price target to $133.00.
ISI Group noted, “Maintain Hold but raising 2013-14 EPS estimates and PT to $133. Due to a modestly better trading and I-banking outlook, we are raising our 2013-2014 EPS estimates to $12.50 (prior $12.10) and $14.00 (prior $13.40). We are maintaining our Hold opinion and increasing our one-year price target of $133, which equals ~9x our 2014 EPS and 0.97x our year-end 2013 TBV estimate of $145. Our ROTCE outlook is 9.7% for 2014 vs. a cost of equity capital of 10%.”
Goldman Sachs Group closed on Thursday at $130.94.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.