Analyst: Goldman Sachs Could Have a Lot of Room to Run

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Goldman Sachs (NYSE:GS) stock has been on a tear. Shares are up nearly 34 percent this year to date, edging ahead of the Financial Select Sector SPDR (NYSEARCA:XLF), up 33 percent, and the broader S&P 500, up 26 percent, over the same period. Shares closed Monday at $175.74, above the mean analyst price target of $169.96 and just shy of the media price target of $177.

If you ask Stanford C. Bernstein & Co. analyst Brad Hintz, though, the stock could — operative word: could — be worth a lot more. In a “utopian scenario,” Hintz said in a report seen by Bloomberg, shares of Goldman Sachs could climb as high as $239, a 36 percent upside on Monday’s closing price.

What it would take for Goldman to hit $239 “would require a nirvana-like environment,” Hintz wrote, but the it’s the spirit of his argument and not necessarily the price target that is relevant to most investors. The year is about to roll over, and the 2013 equity rally is expected to lose some of its steam. Investors, as always, are looking for companies and stocks that will outperform in the coming year. If Hintz’s analysis is grounded in reality, then at minimum, it is a bullish argument for the bank.

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