Goldman (GS) is Golden
Despite being in the crosshairs of the federal government and facing populist outrage, Goldman Sachs (GS) shares continue to rise. Shares of Goldman Sachs are up over 1.5% crossing over $175 today as investors continue to bid the investment banking giant's shares higher.
Goldman appears to have bottomed out in January at $148.96. The consensus estimates for Goldman are that the investment firm will earn $18.46 this year and $20.46 next year. Shares are trading at 9 times this year's earnings and 8.5 times next year earnings estimates.
Ticonderoga Securities analyst Doug Sipkin recommends Goldman Sachs as one of the best brokerage stocks to buy. Sipkin believes that "the company has a strong capital position and will earn its way out" of the current economic dip.
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