GS The Goldman Sachs Group, Inc. : Bullish and Bearish Analyst Opinions

Big banks are cheap and have merger potential.

Prefer large banks due to capital markets cycle.

U.S. banks strong on trading revenue.

Buy Goldman Sachs on weakness.

Buy Goldman Sachs as the stock is poised to rebound once corporate share buybacks resume in the coming days.

Buy Goldman Sachs on strong earnings.

Goldman Sachs quarter good, stock undervalued.

Buy Goldman Sachs on post-earnings weakness, as the underlying quarter remains fundamentally sound and a massive share buyback program will provide strong price support.

Goldman Sachs released Q1 results that beat expectations on record equities trading, yet the stock is down ~5%. A strong earnings beat resulting in a significant sell-off indicates institutional profit-taking and poor underlying market breadth. Watch GS for further downside continuation as the market punishes financial earnings despite top-line beats. The stock could bounce if the broader market catches a sudden "TACO" rally.

Bank trading desks benefit from market volatility.

Bullish on Goldman Sachs for earnings and risk management.

Speaker cited these companies as examples priced to perfection (e.g., CAT/DE at 30x earnings, GE at 45x, GS at 2.6x book), assuming optimal economic reacceleration. Market is complacent, not pricing downside risks; geopolitical tensions and energy cost inflation could slow the economy, hurting cyclical earnings. Overvalued with asymmetric downside risk if conditions worsen, offering poor risk-reward. Swift conflict resolution or economic reacceleration validating current multiples.

Speaker cited Goldman Sachs trading at 2.6x book value as an example of a "priced to perfection" scenario in finance, assuming strong capital markets activity. The potential economic slowdown and market volatility from the energy shock could slow M&A, IPO activity, and investment banking—key revenue drivers. This represents a less-than-optimal outcome for which the stock is not priced. At structurally high valuation multiples, Goldman Sachs is vulnerable to a downturn in financial activity and is not priced for the emerging risks. Capital markets activity remains resilient despite the macro headwinds.

Cramer says there are "multiple reasons to own this stock once you think the coast is clear," citing a potential "rush of deals" under a pro-merger administration, which generates advisory business for Goldman. The prospect of a Middle East ceasefire and calmer markets reduces systemic risk and reignites corporate M&A activity, which is a high-margin revenue stream for Goldman Sachs's investment banking division. LONG as a play on a resurgence in capital markets and merger activity in a more stable geopolitical environment. The ceasefire proves fragile, reigniting risk-off sentiment and freezing deal activity. Earnings (reported next week) could disappoint.

Cramer names Goldman Sachs as a top Dow gainer, states there are "multiple reasons to own this stock once you think the coast is clear," and predicts a "rush of deals" because the administration is "incredibly pro deal making." A favorable, pro-merger regulatory environment would lead to a surge in M&A activity. This surge would directly benefit Goldman Sachs's investment banking advisory business. WATCH as the positive move is tied to the anticipation of a clearer, deal-friendly environment about to materialize ("once you think the coast is clear"). The anticipated surge in deal-making does not occur; regulatory environment becomes less favorable.

Major banks providing a revolver to Cipher Mining signals increased institutional confidence in HPC and crypto-mining infrastructure.

The CEO's strategic focus on a recovery in M&A/deal-making and growth in wealth/alternatives is expected to drive returns above stated targets.

"We've seen the bank index under tremendous pressure. We've seen jaw-dropping selloffs, Morgan Stanley, Goldman Sachs, Blue Owl is top of mind, KKR. If we see continued weakness from the equity perspective, what does that indicate? What does that imply for these actual parent companies?" The combination of geopolitical instability, surging oil prices threatening stagflation, and uncertainty around Federal Reserve rate cuts creates a toxic environment for financials. Higher rates for longer and economic slowdown fears increase the risk of loan defaults and severely reduce lucrative deal-making and investment banking activity. SHORT. Banks and alternative asset managers are highly vulnerable to the macroeconomic shocks and volatility currently unfolding. The Fed could aggressively cut rates to stimulate the economy, or a swift end to the war could spark a massive relief rally in financial stocks.

"We expect 2026 to be a big deal making year in terms of capital formation as well as m and a." A resurgence in M&A and IPOs directly translates to higher advisory and underwriting fees for major investment banks, boosting their revenue and earnings after a prolonged drought. LONG major investment banks ahead of the anticipated 2026 dealmaking boom. Escalation of geopolitical conflicts or persistent inflation could cause a prolonged freeze in capital markets.

"Goldman Sachs has just ordered all regional staff to work from home. City Bank is closing its offices... The trigger here is a direct warning from Iran telling civilians to stay at least 1 kilometer away from any bank linked to the US or Israel." Physical threats to banking infrastructure and personnel in the UAE and Saudi Arabia risk triggering capital flight and stalling lucrative dealmaking with regional sovereign wealth funds. This threatens the advisory fees and regional revenue streams of major Western investment banks operating in the Gulf. WATCH global investment banks with heavy Middle East exposure for potential operational disruptions and deal-flow slowdowns. The threats remain purely rhetorical, and dealmaking continues uninterrupted via remote channels.

In Streetwise, Lloyd Blankfein doesn’t apologize for Goldman Sachs. The former CEO of the investment bank argues that its swagger and contradictions were the source of its power. Read more: https://t.co/AwQJdKN5hX 📷️: Michael Nagle/Bloomberg https://t.co/hxVI5oAJRg

In ‘Streetwise,’ Lloyd Blankfein is unapologetic about Goldman Sachs. He argues that its swagger and contradictions are the source of its power. https://t.co/Ov1qFhFPrf

"Really, across the board, banks are under a lot of pressure to show that they are prioritizing cost management, that they're cutting back." Morgan Stanley is likely the first domino or part of a synchronized trend. If MS is cutting to preserve margins, peers like Goldman Sachs (GS), JPMorgan (JPM), and Citigroup (C) face the same pressure. Investors should watch for similar announcements from peers as a signal of sector-wide "belt-tightening" which usually precedes a bottom in bank valuations. Watch for entry points on major banks as they announce similar efficiency programs. Regulatory pushback or a recession that causes loan losses to outweigh cost-cutting benefits.

Cantor states, "We came into the year with a lot of tailwind... constructive financing markets, strong equity markets really looking... to an active deal market." As Vice Chairman of Moelis (MC), Cantor's commentary confirms that investment banking pipelines are full. A "constructive financing market" directly translates to higher M&A advisory fees and underwriting revenue for boutique and bulge bracket banks. Long Investment Banks (Moelis, Goldman, Morgan Stanley) on the cyclical recovery of the M&A deal flow. A sudden geopolitical shock (Iran escalation) freezing credit markets.

I have Lloyd Blankfein on tonight talking about his great new book Streetwise. We will discuss Goldman, the fed, private credit, culture life... and some tips he gave young people (me) at the firm

And life after Goldman. https://t.co/NoERTQcEyU

Bloomberg (@business) Goldman Sachs sweetened terms further on a downsized $1.25 billion of financing tied to chemical maker Arclin’s acquisition of DuPont’s Aramids business amid ongoing struggles fo

Fitzpatrick argues AI favors incumbents with massive scale and data moats. Varshney notes Citi has 30,000 developers using AI to generate code, saving 100,000 hours/week. Small disruptors cannot afford the capex or possess the proprietary data lakes that giants like JPMorgan or Walmart have. AI becomes a tool for incumbents to crush unit costs and widen moats, rather than a tool for startups to kill giants. LONG Mega-cap incumbents with data scale. Bureaucracy prevents effective implementation of AI tools.

"Goldman put out a shareholder letter... they never referred to these funds as semi illiquid... refer to them as evergreen... distancing one fund to another." Goldman Sachs is proactively managing reputational risk by refusing to promise "semi-liquidity" where it doesn't exist. By framing their funds as "evergreen" (illiquid), they insulate themselves from the investor anger that will hit competitors (like Blackstone) who marketed "semi-liquid" products that are now being gated. GS looks like the "adult in the room" and will likely capture market share from damaged competitors. LONG GS on a relative basis against other alternative asset managers. Systemic credit failure would hurt GS regardless of their marketing terminology.

"Countertrend rallies in... credit sensitive investment banks." Despite the "fear," credit spreads remain stable ("nowhere near Covid" levels per Joe Terranova). If spreads aren't blowing out, investment banks remain profitable and are currently trading as a value rotation play. LONG. Financials are participating in the rotation. A credit event or spike in yields causing a halt in deal-making.