Research Alert: CFRA Reiterates Buy Opinion On The Goldman Sachs Group, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our $1,000 target using a forward P/E of 16.1x, which is above the average five-year historical P/E at 15.5x on normalized earnings. We raise our 2026 EPS estimate by $5.00 to $62.00 and 2027's by $1.00 to $66.00, on projected revenue of $65.8B and $67.7B, respectively. We think the macroeconomic factors supporting GS's fundamentals are likely to show accelerated investment banking fees in Q1 2026 vs. Q4 2025. An elevated equity market is also contributing to higher fee income across several businesses and higher trading volumes. Despite the Iran-US conflict, March results did not impede strong Q1 2026 performance. We think capital market uncertainties depend on the duration of the conflict and its impact on the global economy and capital market fundraising. Private credit is a mixed picture for GS, which benefits with wider spreads on direct loans to the ALT industry but may face some credit defaults should we enter the part of the credit cycle leading to potential recession.