The world's most important central bank says the biggest banks in the U.S. are in strong enough shape to withstand a potential economic slowdown. All 23 banks that the Federal Reserve subjects to its annual stress test passed the key evaluation after the market closed on Wednesday.
Shares of Goldman Sachs have slipped more than 6% since the start of the year. The firm is fighting headwinds stemming from disagreements between Goldman partners and current Chief Executive David Solomon , as well as large losses from the 2021 purchase of GreenSky . Still, 56% of analysts polled by FactSet who cover Goldman Sachs rate it a buy, while its average price target implies roughly 19% upside from current trading levels.
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