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JPMorgan Shifts Stance on Goldman Sachs, Cites Valuation Concerns and European Bank Appeal

JPMorgan has reportedly downgraded Goldman Sachs to neutral, citing its stock trading at fair value. Analysts suggest European investment banks present more attractive opportunities due to significantly cheaper price-to-book ratios.

Analyst Downgrade and Price Target Adjustment

JPMorgan has reportedly shifted its position on Goldman Sachs shares, according to recent analyst reports. Sources indicate that analyst Kian Abouhossein downgraded the investment bank from overweight to neutral, while simultaneously raising the price target to $750 per share from $625. This adjustment suggests approximately 2% downside from Monday’s closing price of $763.32, the report states.