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WELLS FARGO RAISES PRICE TARGET OF GOLDMAN SACHS, STOCK RISES - Capital Street FX

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    • WELLS FARGO RAISES PRICE TARGET OF GOLDMAN SACHS, STOCK RISES
17-Dec
19:54 IST

In the Premarket trading session on Tuesday, Goldman Sachs’ stock was trading at 229.00- higher by 0.42% as compared to its previous close.

Investment bank Wells Fargo raised its price target on stocks of Goldman Sachs to $280 a share from $240 per share. The investment bank, however, reiterated an Overweight rating on stocks of the financial services company. Wells Fargo’s price target represents an upside of about 23% from the share’s previous closing price of $228.04.

The investment bank increased its price-target of Goldman Sachs citing an improved outlook after a transition year including new management and investments, and also earnings estimates that are above the market expectation. Wells Fargo also said that a near-term 1MDB resolution should also support the stock of Goldman Sachs. The Wall Street bank on Monday outlined plans to put money and advice toward projects that fight climate change

On the technical front, the current price is above the MA5 and the MA20. The current price is above the upper band of the Bollinger Bands and is heading upwards. The stock is expected to trade higher today.

 

TRADE SUGGESTION- LIMIT BUY AT 228.70 TAKE PROFIT AT 230.50 STOP LOSS AT 227.80

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