Street View: Analysts see Goldman Sachs gaining momentum with asset management and AI leadership

Goldman Sachs GS.N Q2 profit exceeded Wall St expectations, as turbulent markets raised revenue in its equities division to a record, and a pickup in dealmaking boosted investment banking

Median PT of 22 brokerages is $720, while rating is "hold" - LSEG data

BANKING BIG ON BUYBACKS AND BLOCKCHAIN

BofA ("buy," PT: $782) says GS well-positioned with significantly stronger investment banking pipeline and improved macro clarity driving deal momentum alongside structural growth in private credit and tech-driven efficiencies

Citizens ("market perform") cites strong market share gains and effective capital deployment

Highlights long-term growth potential through asset management and AI leadership and blockchain innovation

RBC ("sector perform," PT: $700) says with a reduced capital buffer and new $40 bln buyback plan, GS well-positioned for sustained shareholder returns or potential acquisitions

KBW ("market perform," PT: $790) views GS exit from underperforming ventures like Apple and GM cards allows it to reallocate $4 bln towards higher-margin growth areas like asset management and private banking