He cautioned, however, that investor returns will likely be closer to the lower end of Goldman managements forecasts. The analyst added that Goldman's ability to find growth from investments originating from its balance sheet has pushed the stock higher in the past. "While we view the ROTCE target as achievable, we also believe it will take time as well as a better investment banking environment where GS is very levered to in GBM (investment banking highest return business) and AWM (via higher incentive fees/harvesting of gains on its on-balance sheet investments)," Horowitz wrote. Analyst Keith Horowitz said that while Goldman management recently outlined a 15% to 17% target for return on tangible common equity (ROTCE), that goal may be somewhat lofty for the bank at this time. It did, however, raise its price target to $400 per share from $370, equating to roughly 11% upside from Monday's close. Citi downgraded shares of the investment bank to neutral from buy in a Tuesday note. Personal Loans for 670 Credit Score or LowerĬiti thinks Goldman Sachs ' long-term company goals may be more difficult to reach than investors think. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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