Goldman Sachs' Q3 Report Impresses Analysts With Strong Investment Banking, Trading Revenues

Goldman Sachs Group Inc (NYSE:GS) reported on Tuesday upbeat earnings for its third quarter.

The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.

Oppenheimer On Goldman Sachs

Analyst Chris Kotowski reiterated an Outperform rating while raising the price target from $577 to $614.

Goldman Sachs reported earnings of $8.40 per share, beating consensus of $6.89 per share, with core operating earnings of around $9.02 per share, Kotowski said in a note. "This, in turn, would put core ROTCE at ~11.7% for the quarter, which is not bad in that we still see the investment banking environment as pretty weak," he added.

The results were driven mainly by stronger-than-expected investment banking and equity trading revenues, the analyst stated. The bank's total revenues came in at $12.7 billion, up 7.5% year-on-year, Kotowski further said.

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RBC Capital Markets On ...