GS
Earnings eve, Wall Street style
Goldman Sachs is heading into its Q3 earnings report on Tuesday, Oct. 13, and the analyst crowd is doing what it does best: updating forecasts, tweaking price targets, and pretending it’s all very calm. The Street expects earnings of $15.39 per share on revenue of $17.42 billion, both higher than a year ago.
The real subplot: who’s driving the bus?
The bigger drama may be the boardroom soap opera. According to the article, Goldman’s board has discussed a succession plan that could eventually move CEO David Solomon aside and put President and COO John Waldron in the top seat. That’s not the kind of headline investors ignore — because at big banks, leadership transitions can matter almost as much as the numbers.
The analysts are already sniffing around
A few notable forecasts got fresh paint:
- Wells Fargo’s Mike Mayo kept an Overweight rating but cut his target to $1,175 from $1,325.
- UBS’s Erika Najarian stayed Neutral and nudged her target up to $1,150.
- BMO’s Brennan Hawken held Market Perform while trimming his target.
- Evercore and Citi both stayed constructive, even as they fine-tuned their targets.
That’s basically Wall Street saying, “We still like the stock… but please don’t make us be dramatic about it.”
Big picture
Goldman’s print is a test of two things at once: whether trading and banking can keep delivering, and whether the market starts pricing in a leadership transition narrative. If the numbers are strong, the stock can shrug off the gossip. If they’re soft, every boardroom rumor suddenly gets a megaphone.