: UBS upgrades Goldman Sachs to buy from hold on attractive valuation, lower-risk profile
Goldman Sachs Group Inc. GS on Wednesday drew an upgrade to buy from hold at UBS on the stock’s attractive valuation and lower risk profile than its peers. Analyst Brennan Hawken said the investment bank “appears well positioned to outperform amidst elevated levels of market volatility” with potential growth in its asset and wealth management business and transactional banking, with less exposure to consumer deposits and commercial banking than other firms. Goldman Sachs has an opportunity to accelerate its asset management business through “attractively-priced mergers and acquisitions,” Hawken said. Shares of Goldman Sachs rose 0.8%.
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