#3 - Goldman Sachs (NYSE:GS)
Goldman Sachs (NYSE: GS) - Investment banks may have a reputation that is comparable to Ebenezer Scrooge, but analysts are using recent events to be the Grinch that is stealing holiday joy from Goldman’s stock. And to be sure, nobody is going to feel sorry for a stock that is still trading north of $200 per share. Still, if you’re looking for stocks that are selling at a discount (it dropped over ten percent in a week), Goldman Sachs should draw interest. The company is involved in a scandal involving the Malaysian finance minister’s request for a $600 million refund of fees associated with Goldman’s involvement in underwriting bonds of Malaysia’s 1MDB fund. Now claims of theft are not to be taken lightly, but there are two things to consider. First, scandals of this sort are not new to investment banks. They usually end up being settled with fines and a stern reprimand from regulators. But right now Goldman’s punishment which is currently measured as a stock price that is down disproportionately to the amount of market cap that is being implicated. Second, even if GS has to pay the full $600 million, it would be equivalent to a hit of less than $2 per share (or less than 1%) of the company’s stock.
About The Goldman Sachs Group
The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.
Read More - Current Price
- $438.18
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $437.04 (0.3% Downside)
