© Reuters. FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo/File Photo
"Goldman is more beholden to the capital markets" than other banks, said Stephen Biggar, an analyst at Argus Research Corp. Investment-banking doldrums are the biggest reason for weak earnings, he added. While it did not disclose the deal's value, Goldman will take a charge of 19 cents per share for the third quarter, adding to a previous writedown of $504 million in the second quarter.
UBS on Wednesday cut its target price for Goldman Sachs to $382 a share from a previous target of $400. UBS still has a buy rating on the stock. "It's still very uncertain," Solomon told Reuters in an interview last month."People are starting to open up to a better environment and think a little bit more forward strategically, but there's a lag time," he said, referring to M&A.
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