MKM Partners analyst David Trone weighed in with some comments on Goldman Sachs Group Inc (NYSE:GS) after the company achieved its price target. Trone reiterated a Buy rating on the stock, and raised the price target from $213 to $245. Shares of GS are currently trading at $211.96, down $1.10, or -0.52%.
Trone commented, “GS shares have been on the move, up roughly 16% over the past three months. That said, we continue to believe Goldman is a leading franchise and innovator that has continually shown an ability to generate returns near the higher end of its bulge-bracket peers.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst David Trone has a total average return of 7.9% and a 71.4% success rate. Trone has a 22.9% average return when recommending GS, and is ranked #1832 out of 3624 analysts.
Out of 24 analysts polled by TipRanks, 4 rate Goldman Sachs stock a Buy, 18 rate the stock a Hold, and 2 recommend a Sell. With a downside potential of 33.42%, the stock’s consensus target price stands at $140.80.