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Upgrade Alert for Goldman Sachs Group (GS)

By James Quinn

Goldman Sachs Group (NYSE:GS) was upgraded from Hold to Buy at Rafferty Capital today. The stock closed yesterday at $169.00 on volume of 3.1 million shares, below average daily volume of 3.3 million.

The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.

There is potential upside of 22.6% for shares of Goldman Sachs Group based on a current price of $169.00 and an average consensus analyst price target of $207.17. The stock should hit resistance at its 200-day moving average (MA) of $174.77, as well as support at its 50-day MA of $156.96.

In the past 52 weeks, Goldman Sachs Group share prices have been bracketed by a low of $138.20 and a high of $218.77 and closed yesterday at $169.00, 22% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.8%.

SmarTrend is monitoring the recent change of momentum in Goldman Sachs Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Goldman Sachs Group in search of a potential trend change.

Keywords: analyst upgrades/downgrades goldman sachs group

Ticker(s): GS