Movement Alert|Goldman Sachs Rises 3.1% in Regular Trading, JPMorgan Raises Target Price as Banking Sector Rebounds from Two-Day Selloff

Market Focus06-12

On June 12, Goldman Sachs rose 3.1% in regular trading, trading at $1068.88/share, with turnover of $564 million. The rebound follows a cumulative decline of over 6% in the prior two sessions driven by tech sector turmoil and rate hike concerns.

On the news front, JPMorgan raised its target price on Goldman Sachs from $826 to $900, while the Wall Street consensus target stands at $967.95. The broader banking sector rallied in tandem, with Citigroup up 2.5% and Morgan Stanley climbing 1.9%, as financial stocks staged a technical recovery.

Additionally, the Philadelphia Semiconductor Index rebounded over 4% on the day, with stabilization in the tech sector alleviating concerns over potential downgrades to investment banking trading and equity underwriting revenue. Goldman Sachs President John Waldron noted that SpaceX's record-breaking IPO demonstrates strong investor appetite for AI infrastructure financing, and projected that the current year is likely to set a record for M&A activity.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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