[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5451 followers Created: 2025-07-18 01:07:52 UTC $GS Attached is page X of a 10-page Bank of America analyst report on GS issued yesterday entitled: "Cyclical + Structural tailwinds to drive stock outperformance" Bank of America has a 'Buy' rating on GS with a $XXX price target. Bank of America's summary statement regarding GS in the report includes the following: "See upside to 2026 EPS/ROTCE ($55/16%) forecast: 2Q25 core EPS of $XXXXX handily beat BofA/cons. ests (+12%/11%) driven by a blowout quarter for M&A advisory +71% YoY and equities trading +36%. No material changes to our 2H25/FY26e EPS. We see upside to our above consensus (~8%) FY26e EPS on stronger revenue growth, better operating leverage and excess capital deployment. CET1 capital ratio at XXXX% vs. XXXX% regulatory minimum (effective Oct 1) with mgmt. indicating desire to operate with a 50-100bp buffer once there is clarity on capital and liquidity requirements (such as the eSLR at 5.3%; Fed has issued a notice of proposed rulemaking with the comment period ending Aug 26). For longer term investors, it is worth considering that a XXXX% CET1 ratio implies potential for ROTCE in the high teens-to-close to XX% range vs. 16.1%/17.3% our FY26/27 forecast respectively. Backlog grinds higher despite accelerated activity: Mgmt. sounded upbeat on the investment banking (IB) pipeline/outlook (similar to what we have heard from Wall Street peers this week) noting that the advisory backlog grew for the fifth consecutive quarter and is “up significantly” vs YE24 levels. This is notable given the strong pace of realizations during the quarter. While commenting on the macro backdrop, CEO David Solomon noted that: “a narrowed range of outcomes on trade and the overall economy has helped confidence and increased willingness to transact…the elevated level of dialogue is in a much different place than it was three to six months ago.” We conservatively forecast IB revenue growth +6.3% for 2H25 vs. XXXX% reported for 2Q25 YoY. Forecast trading revenues +3.7% 2H25 vs. +17.0% 1H25 YoY. -- Price Objective Basis: Our $XXX PO is based on XX% FY26e P/E and XX% FY26e P/TBV. Assign 14.2x to FY26e EPS, 2.3x YE26e TBV, above the bank's 5-year pre pandemic median of 10.1x/1.2x given potential for a positive EPS revision cycle and upside to our EPS/ROE forecast. -- Downside risks to our PO: Weaker economy/capital markets, macro or geo-political issues, competition, structural pressures, tougher global regulation, and litigation. -- Upside risks: Stronger capital markets activity." (Page X is not available here as X does not allow me to post pages from reports on this platform) XXX engagements  **Related Topics** [eps](/topic/eps) [united states](/topic/united-states) [bank of](/topic/bank-of) [$gs](/topic/$gs) [goldman sachs](/topic/goldman-sachs) [stocks financial services](/topic/stocks-financial-services) [bank of america](/topic/bank-of-america) [stocks banks](/topic/stocks-banks) [Post Link](https://x.com/CorleoneDon77/status/1946014020269490320)
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DonCorleone77 @CorleoneDon77 on x 5451 followers
Created: 2025-07-18 01:07:52 UTC
$GS
Attached is page X of a 10-page Bank of America analyst report on GS issued yesterday entitled:
"Cyclical + Structural tailwinds to drive stock outperformance"
Bank of America has a 'Buy' rating on GS with a $XXX price target.
Bank of America's summary statement regarding GS in the report includes the following:
"See upside to 2026 EPS/ROTCE ($55/16%) forecast:
2Q25 core EPS of $XXXXX handily beat BofA/cons. ests (+12%/11%) driven by a blowout quarter for M&A advisory +71% YoY and equities trading +36%. No material changes to our 2H25/FY26e EPS. We see upside to our above consensus (~8%) FY26e EPS on stronger revenue growth, better operating leverage and excess capital deployment.
CET1 capital ratio at XXXX% vs. XXXX% regulatory minimum (effective Oct 1) with mgmt. indicating desire to operate with a 50-100bp buffer once there is clarity on capital and liquidity requirements (such as the eSLR at 5.3%; Fed has issued a notice of proposed rulemaking with the comment period ending Aug 26). For longer term investors, it is worth considering that a XXXX% CET1 ratio implies potential for ROTCE in the high teens-to-close to XX% range vs. 16.1%/17.3% our FY26/27 forecast respectively.
Backlog grinds higher despite accelerated activity:
Mgmt. sounded upbeat on the investment banking (IB) pipeline/outlook (similar to what we have heard from Wall Street peers this week) noting that the advisory backlog grew for the fifth consecutive quarter and is “up significantly” vs YE24 levels. This is notable given the strong pace of realizations during the quarter.
While commenting on the macro backdrop, CEO David Solomon noted that: “a narrowed range of outcomes on trade and the overall economy has helped confidence and increased willingness to transact…the elevated level of dialogue is in a much different place than it was three to six months ago.” We conservatively forecast IB revenue growth +6.3% for 2H25 vs. XXXX% reported for 2Q25 YoY. Forecast trading revenues +3.7% 2H25 vs. +17.0% 1H25 YoY.
-- Price Objective Basis:
Our $XXX PO is based on XX% FY26e P/E and XX% FY26e P/TBV. Assign 14.2x to FY26e EPS, 2.3x YE26e TBV, above the bank's 5-year pre pandemic median of 10.1x/1.2x given potential for a positive EPS revision cycle and upside to our EPS/ROE forecast.
-- Downside risks to our PO:
Weaker economy/capital markets, macro or geo-political issues, competition, structural pressures, tougher global regulation, and litigation.
-- Upside risks:
Stronger capital markets activity."
(Page X is not available here as X does not allow me to post pages from reports on this platform)
XXX engagements
Related Topics eps united states bank of $gs goldman sachs stocks financial services bank of america stocks banks