Goldman Sachs
Goldman Sachs is an American multinational investment bank and financial services company.
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Goldman Sachs: UNH Q3 EPS $4.69 Beats Expectations, Price Target Raised to $506
According to Chaoxiang Research, a Goldman Sachs research report dated October 13, 2026, noted that UnitedHealth Group (UNH) reported third-quarter adjusted EPS of $4.69, far exceeding Goldman Sachs' forecast of $3.90 and the Visible Alpha consensus of $4.06. The medical loss ratio stood at 88.4%, improving by 160 basis points relative to Goldman Sachs' and consensus estimates. Full-year 2026 adjusted EPS guidance was raised to at least $20.50. Management indicated that the $22.54 consensus estimate for 2027 may underestimate the earnings opportunity. Goldman Sachs concluded that the third quarter validated a dual-cycle margin recovery, with Medicare Advantage (MA) plan margins rebounding faster than anticipated. Optum Health, commercial insurance, and Medicaid continue to provide additional earnings leverage. The firm maintains a Buy rating, raising its price target from $490 to $506, representing a 33.9% upside from the closing price on October 13.
Alpha
Price
U.S. Consumer and Credit Remain Resilient, Q3 Earnings from Four Major Banks Show Active AI Financing Demand
Odaily reports: qinbafrank posted on X platform that Q3 earnings released by JPMorgan, Goldman Sachs, Citi, and Wells Fargo show U.S. consumer spending remains resilient, corporate credit at major banks continues to expand, and actual credit losses have not broadly risen. JPMorgan's credit card spending grew 10% year-over-year this quarter, with a net charge-off rate of 1.27%; JPMorgan, Citi, and Wells Fargo saw average loans grow 10%, 12%, and 11% year-over-year, respectively. Goldman Sachs stated that client demand for computing power exceeds supply, providing opportunities for financing arrangements, but the firm will remain selective on underwriting and capital commitments; JPMorgan's CFO said AI financing demand and project pipeline remain active, while deal pace will be influenced by valuations and market conditions.
Major
摩根大通
Federated Hermes plans to launch its first tokenized fund shares in early 2027.
According to CoinDesk, asset manager Federated Hermes (FHI), which manages $911 billion in assets, has announced a partnership with New York-based digital securities infrastructure provider Prometheum to launch its first batch of tokenized fund shares in early 2027, making them available to investors through traditional brokerage accounts and financial advisor channels. Money market funds will serve as the priority entry point for tokenization. Prometheum’s SEC-registered broker-dealer subsidiary will provide custody, clearing, and settlement services. Previously, the company had collaborated with platforms such as Archax, Goldman Sachs, and Conduit Digital to explore tokenization. It will now transition to self-issuing tokenized fund shares, further deepening its on-chain footprint. Citi forecasts that the tokenized securities market could reach $5.5 trillion by 2030.
Archax
based
CoinDesk
Conduit
Conduit
entry
Goldman Sachs Turns Bullish on Stocks and Bonds: Optimistic That AI Stocks Will Drive the Market's Continued Rally
Odaily Report: Goldman Sachs has upgraded its rating on equities to "overweight" for the next three months, while raising its rating on bonds to "overweight" for the next 12 months. In terms of equity allocation, Goldman Sachs is more bullish on AI-related stocks and select high-dividend names.Goldman Sachs stated that improving valuations, resilient corporate earnings, and the trend of slowing inflation will support market performance through 2027. However, the institution also warned that rising yields and geopolitical risks could continue to drive up market volatility.
Bullish
Market
Rally
Rally
Rally
Goldman Sachs: Sovereign AI unlocks $500 billion market, Palantir upgraded to Buy
According to Chaotang Research, a Goldman Sachs report dated October 8, 2026 upgrades Palantir's rating from Hold to Buy, with a price target of $230 against a current stock price of $194.12, representing an upside potential of 18.5%. Goldman Sachs estimates Palantir's total addressable market could reach up to $500 billion, with an addressable market size of approximately $35 million per customer, while current average commercial revenue per customer stands at around $4 million. Goldman Sachs notes that sovereign AI and custom applications are driving a step-change expansion in the addressable market. The FDE model and AI FDE underpin profit margins, and the U.S. government is shifting from project-based to platform-based engagements. Key risks include competitors expanding their FDE footprint, slowing enterprise AI adoption, and volatility in government procurement. Goldman Sachs has increased its revenue projections for 2026 through 2029 to $8.371 billion, $13.233 billion, $19.335 billion, and $25.747 billion, respectively.
based
Key
Sovereign
Goldman Sachs: Ten Energy and Power Stocks See Average Upside of 27%, Driven by Data Centers and LNG
According to research, a Goldman Sachs report dated October 8, 2026, identifies ten energy and power stocks with an average total return potential of 27%, all assigned a Buy rating. The coverage includes ConocoPhillips, Occidental Petroleum, Permian Resources, Quanta Services, Duke Energy, Baker Hughes, Golar LNG, HF Sinclair, TC Energy, and Antero Resources. Price targets and total return projections are based on closing prices as of October 7, 2026. Goldman Sachs notes that data center demand is driving the power sector, with Duke Energy maintaining a 15.4-GW data center pipeline and Quanta Services projecting a revenue CAGR of approximately 15% through 2030. On the LNG front, Golar LNG is expected to generate around $1.2 billion in run-rate EBITDA by 2030, with each MKII vessel adding approximately $400 million. Upstream oil and gas producers are benefiting from an inflection point in free cash flow, while refining profit forecasts have room for upward revisions. Key Q4 catalysts include ConocoPhillips’ Willow project, an upgrade to Duke Energy’s guidance, and the contract for Golar LNG’s fourth vessel.
based
Key
Price
Ten
Upside
Goldman Sachs: Dell AI server deliveries are 4 to 6 weeks faster than peers; memory is the bottleneck in 2027
According to research, Goldman Sachs' October 8, 2026 report indicated that Dell's AI server deliveries are approximately four to six weeks faster than those of its peers, enabling customers to commence operations and monetize earlier. Goldman Sachs maintains a Buy rating on Dell, with a price target of $570 against its current share price of $574.55. Dell expects memory market tightness to persist through 2027, as demand growth continues to outpace supply growth. Goldman Sachs believes Dell's competitive moat extends from component sourcing to system design, supply chain procurement, manufacturing, and deployment, supporting its premium pricing relative to OEMs and ODMs. Rising storage integration rates and operating leverage are the primary drivers for future margin expansion. Enterprise AI adoption remains in its early stages, with hybrid architecture representing the main evolutionary direction.
Goldman Sachs: Constellation Energy signs 3.6GW nuclear PPA with Google, contract rate rises to 28%
According to Chaoxiang Research, Goldman Sachs' October 6, 2026 research report indicates that Constellation Energy has signed a combined approximately 3.6 GW nuclear power purchase agreement with Google. The agreement includes an 890 MW nuclear capacity upgrade for a 20-year term, and 2,700 MW of existing nuclear capacity for a 15-year term, totaling approximately 3.59 GW. Constellation Energy has committed to investing more than $4.3 billion. The agreement increases the company's contracted nuclear capacity share from 13% to 28%. Goldman Sachs estimates that pre-growth free cash flow will rise from approximately $449 million to $1.167 billion, representing 5% to 14% of its estimated 2030 baseline. Goldman Sachs maintains a neutral rating with a $305 target price, versus the current stock price of $267.62. Goldman Sachs views the agreement as positive for both the company and the industry, and believes investor skepticism regarding PJM's ability to secure PPAs may now shift. Goldman Sachs also notes that Constellation Energy offers relatively lower valuation attractiveness compared to other independent power producers. Whether the revaluation trend persists will depend on whether PJM policy developments yield adverse outcomes, including the IRAS ruling expected by October 12 and the pending RBP process.
Constellation
Bloomberg: SpaceX IPO Becomes Goldman Sachs' "Multiple-Fee" Feast, Advisor Fees Bring in Roughly $100 Million as Client Cash-Outs Further Contribute Hundreds of Millions in Incentive Fees
According to Bloomberg, Goldman Sachs earned hundreds of millions of dollars in incentive fees by helping clients make early investments in SpaceX ahead of its listing this June at a $1.77 trillion valuation. Insiders revealed that more than five years ago, Goldman Sachs had already assisted select high-net-worth clients in investing in SpaceX, when the company's valuation was only tens of billions of dollars. Following SpaceX's listing, Goldman Sachs clients who sold their shares realized massive gains, while simultaneously generating hundreds of millions of dollars in incentive fees for Goldman Sachs.
Bring
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Contribute
June
Goldman Sachs pushes back expectations for Fed rate hikes to December
Goldman Sachs' latest report adjusts expectations for the Federal Reserve's monetary policy path, pushing the timing of the first rate hike from October to December.
Goldman Sachs: Palantir's FDE moat is deeper than expected, verticalization catalyzes growth
According to research, Goldman Sachs' September 28, 2026 research report indicates that Goldman Sachs hosted an investor meeting with Palantir CFO Dave Glazer, maintaining a Neutral rating with a 12-month price target of $204, reflecting 7.6% upside. Approximately 97% of clients utilize AIP Evolve, with contracts typically spanning around three years, and clients often expand engagements roughly 18 months post-deployment. One major potential competitor withdrew from direct competition after evaluating this growth strategy. Goldman Sachs believes that Palantir's frontline deployment engineer (FDE) moat offers greater stickiness than standard FDE deployment. Competitive pressure mainly stems from internal enterprise IT, while model vendors and data platforms provide complementary positioning. The three vertical focus areas are: Financial Services, which will add a former AIG CEO; Semiconductors, partnering with NVIDIA; and Next-Gen Cloud, collaborating with Nebius. The $204 price target is based on a 60x multiple applied to free cash flow estimates for Q5 through Q8.
AI Gram
based
Neutral
Next-Gen
NVIDIA
With nearly three decades of experience at Goldman Sachs, Lisa Mantil joins Polymarket as Head of Institutional Business Growth
Odaily News: Prediction market trading platform Polymarket has hired Lisa Mantil, a Goldman Sachs veteran with nearly thirty years of experience, as Head of Institutional Business Growth to drive its plans to attract Wall Street liquidity. Mantil was previously a partner at Goldman Sachs and served as the global head of the bank's ETF Accelerator.
Polymarket
Street
Goldman Sachs: Upgrades AI Switching Market Forecast, Rates ANET and CLS as Buy
According to Chaoxiang research, Goldman Sachs noted in its research report dated September 28, 2026 that the 650 Group has raised its 2030 forecast for the AI Ethernet data center switch market to approximately $100 billion, with a compound annual growth rate (CAGR) of 65% from 2025 to 2030. The AI server market is projected to reach $1.3 trillion by 2030, up approximately 4% from prior estimates. The traditional data center switch market forecast was revised upward by an average of 42% for the 2026–2030 period. Goldman Sachs forecasts Arista Networks (ANET) 3Q26 revenue of $3.48 billion and EPS of $1.11, both above market consensus; Celestica (CLS) 3Q26 revenue of $5.36 billion aligns with expectations, while EPS is revised down to $2.85 due to dilution from a $3 billion equity offering; F5 (FFIV) F4Q26 revenue of $894 million exceeds market consensus. Goldman Sachs believes AI network demand is being underestimated, with ANET and CLS identified as the primary beneficiaries. ANET retains a Buy rating with a $225 price target; CLS retains a Buy rating, with 2027 and 2028 EPS forecasts above market consensus; FFIV retains a Neutral rating with a $400 price target. Campus network expenditure forecasts were simultaneously adjusted upward, with WLAN and enterprise switching revised up by approximately 6% and 8%, respectively.
ColdStack
Market
Neutral
Goldman Sachs: HOOD Crypto Trading Exceeds Consensus by 87%, Target Price Raised to $145
According to Chaoxiang Research, Goldman Sachs' September 28, 2026 research report indicates that HOOD's September crypto volume increased 21% month-over-month to $21.9 billion, 87% higher than market consensus; event contract volume rose 37% sequentially, outperforming consensus by 36%. Stock and options volumes saw a slight sequential decline but remained 17% and 43% above consensus, respectively. Goldman Sachs raised its net revenue forecasts for 2026 to 2028 by 1%, 4%, and 4%, respectively, while adjusting its EPS forecasts by -1%, +4%, and +3%. Goldman Sachs noted that a steeper yield curve served as the second driver behind the revenue upgrade. The market forward rate curve implies approximately 3.5 additional rate hikes to the Federal Funds Rate by the end of 2027 compared to prior models, supporting net interest income. The target price was raised from $144 to $145, maintaining a Buy rating, with the current share price of $116.46 representing a 24.5% upside potential.
Price
Goldman Sachs: U.S. Economic Resilience Underestimated, Interest Rate and Oil Price Shocks Impact Just 0.4 Percentage Points
According to Chaoxiang Research, Goldman Sachs' research report dated September 28, 2026 maintains its 2026 U.S. GDP growth forecast at 2.2%, only 0.3 percentage points lower than the beginning-of-year estimate. Third-quarter growth is projected at 3.4%, near the potential growth rate of 2.3%. The net impact of financial conditions is 0.1 percentage points, with rising interest rates offset by stock price gains, narrowing credit spreads, and a weaker U.S. dollar. Oil price shocks act as a headwind of 0.3 percentage points, resulting in a combined drag of approximately 0.4 percentage points. Goldman Sachs believes the market has overestimated the impacts of interest rates and oil prices. Consumer spending grew by 2.2%, 0.2 percentage points above model forecasts, serving as the primary source of economic resilience. Residential investment faces a headwind of approximately 2.6 percentage points from high interest rates, while consumer and business investments each contribute positively by about 0.1 to 0.2 percentage points. The recovery in energy capital expenditures partially offsets the drag from consumption. Tightening financial conditions and higher oil prices collectively weigh on growth by roughly 0.4 percentage points, with Goldman Sachs' downward adjustment to its full-year forecast being slightly smaller than this figure.
DataPig
Impact
Price
Goldman Sachs Brings $100 Billion Treasury Fund to Institutional Crypto Network
Goldman Sachs will provide its approximately $100 billion government bond fund, FTIXX, to institutional clients through the crypto settlement network Lynq. This initiative does not employ a tokenization model and aims to provide a yield channel for the idle funds of digital asset companies.
Treasury
Goldman Sachs Connects $100 Billion Treasury Fund FTIXX to Lynq
Odaily News: Goldman Sachs' $100 billion treasury fund FTIXX has launched on Lynq as the first external fund, providing institutional digital asset companies with access to a traditional treasury fund.Unlike BlackRock's BUIDL and Franklin Templeton's BENJI, FTIXX will not be tokenized, with Lynq serving merely as a new distribution channel for the existing fund. Lynq clients can park cash in FTIXX between trades to earn yield until the funds are needed for other purposes. (CoinDesk)
Benjamin
CoinDesk
Franklin
Franklin Templeton
Starter
Treasury
Hut 8 Completes $1.07 Billion Four-Year Senior Secured Revolving Credit Facility, Led by JPMorgan
Odaily News: Hut 8 announced the completion of a $1.07 billion four-year senior secured revolving credit facility, with JPMorgan serving as Lead Arranger, Bookrunner, and Administrative Agent, Citi, Goldman Sachs, and Morgan Stanley serving as Joint Lead Arrangers and Joint Bookrunners, and a syndicate comprising 12 lending institutions in total. Hut 8 is primarily engaged in energy infrastructure and digital asset mining businesses.
Joint
摩根大通
Goldman Sachs: AI Capital Expenditure to Rise 54% in 2027, Hyperscaler Valuations at Ten-Year Lows
According to Chaoxiang Research, a Goldman Sachs research report dated September 24, 2026, states that major U.S. hyperscalers will allocate capital expenditures of $800 billion in 2026, $1.2 trillion in 2027, and $1.4 trillion in 2028. The growth rate is projected to decelerate from nearly 100% in 2026 to 54% in 2027 and 12% in 2028. Goldman Sachs estimates that hyperscalers will need to generate approximately $300 billion in annual AI revenue over the next few years to achieve break-even, meaning AI users must spend around $1 trillion annually on AI applications. Valuations in the semiconductor sector remain conservative, with memory stocks trading at a two-year forward P/E of 4 times against a historical average of 8 times; fabless chip stocks at 13 times, compared to a historical average of 18 times.
Rise
Ten
Goldman Sachs: AI Infrastructure Spending by 5 Tech Giants Including Amazon, Microsoft, and Meta to Reach $800 Billion This Year
Goldman Sachs estimates AI infrastructure spending by Amazon, Google parent company Alphabet, Microsoft, Oracle, and Meta will reach $800 billion this year. Goldman Sachs notes that hyperscale cloud providers need approximately $300 billion in annual AI revenue to break even. However, rising financing demands and infrastructure constraints may weigh on the pace of future spending growth.
Oracle
Reach
Reach