Goldman Sachs, Morgan Stanley, BNY Mellon and State Street top Jefferies list for Q1 bank earnings

Jefferies analysts on Tuesday said Morgan Stanley, Goldman Sachs Group Inc., Bank of New York Mellon Corp. and State Street Corp. remain more attractive than other big banks ahead of first-quarter earnings season.

Jefferies analysts said they prefer Goldman Sachs GS and Morgan Stanley MS , as well as BNY Mellon BK and State Street STT , as ways to have exposure to any potential positive around deposit flows to larger banks. Those banks also offer less net interest income risk and better capital positioning, the analysts said.

And with large wealth-management and brokerage revenue, Morgan Stanley and Goldman may avoid the potential negative impact on net interest income from loans in the banking sector. The two marquee investment banks also offer stable preprovision net revenue, minimal credit risk and strong capital bases, analysts said.

Jefferies analysts also upgraded New York Community Bancorp Inc. NYCB to buy from hold amid the challenging environment for banks in the past month after the collapse of Silicon Valley Bank and Signature Bank of New York.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street banks to reveal weak quarterly earnings, bleak outlook for 2023Earnings per share of the six largest US banks including JPMorgan Chase, Morgan Stanley, and Goldman Sachs are expected to decline by around 10% from the previous year.
Source: nypost - 🏆 91. / 67 Read more »

Here are Goldman's 4 things to watch for as gloomiest earnings season since pandemic beginsInflation is squeezing corporate profit margins. Analysts cut their outlook pretty aggressively as the economic outlook deteriorated during the first quarter. Here are some strategies for protecting your portfolio, according to Goldman Sachs analysts. I like I like ! Buying opportunities to present themselves after blood on the streets !
Source: MarketWatch - 🏆 3. / 97 Read more »