Goldman Sachs (GS.US) — Shares of the major US banks jumped today after the Federal Reserve announced that it will allow the industry to resume share buybacks in the first quarter of 2021 following results of the second round of stress tests which had been released on Friday. Goldman already confirmed it would resume buybacks in the first quarter. Meanwhile Morgan Stanley increased its price target on Goldman to $291 from $273, citing increased trading revenue, while Wells Fargo gave Goldman a $320 price target and an "overweight" rating."
Goldman Sachs (GS.US) stock rallied more than 6.0% today. Solid stress tests results could provide fuel for bulls to look towards all-time highs at $274.75. Source: xStation5
