Bank of America Bullish on Goldman Sachs, Predicts Surge to $700

The Goldman Sachs Group, Inc. (NYSE:GS) is one of the best stocks for a retirement stock portfolio.

On June 12, Bank of America reaffirmed its Buy rating on Goldman Sachs, highlighting the firm’s ability to evolve with changing conditions, describing it as having “proven DNA to adapt to an ever-changing world.”

The bank set a price target of $700 per share, suggesting a 12% gain from June 11’s closing price of $624.17. Analyst Ebrahim Poonawala noted The Goldman Sachs Group, Inc. (NYSE:GS)’s long track record of weathering challenging periods, pointing to the Paul Volcker era at the Federal Reserve and the 2008 financial crisis as moments that showcased “a strong combination of scale and flexibility.” Poonawala made the following comment:

“A sea change in the macro backdrop (interest rates, geopolitics) vs. post-GFC [Great Financial Crisis] years combined with a strategy that is focused on deepening client relationships (via financing) has increased the resiliency of trading revenues.”

He also projected ongoing strength in The Goldman Sachs Group, Inc. (NYSE:GS)’s trading revenue, which stood out in the bank’s latest quarterly results. The analyst further stated:

“Goldman’s presence in the private credit space dating back to the mid-90s, history of strong risk management (superior client selection) should reduce the risk from any potential credit volatility in this space.”

GS has surged by nearly 7% since the start of 2025.

While we acknowledge the potential of GS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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