大行评级丨大摩:下调高盛第三季每股盈测,维持“与大市同步”评级

格隆汇
Sep 20
摩根士丹利发表报告,下调高盛今年第三季每股盈测11.3%至13.76美元,主要反映非薪酬支出(经纪及清算/其他)、薪酬支出上升、资产及财富管理投资收入下降、投资银行费用略为减少,以及拨备增加,部分被股票及固定收益、外汇及商品(FICC)收入上升与税率下降所抵销。高盛管理层在会议上的评论包括:股票业务相对强劲;FICC业务相对略为疲软;资产及财富管理投资业务较第二季明显更为低迷;非薪酬支出按季增加5亿美元或以上;拨备按年略为上升。该行同时下调2026财年每股盈利预测2.46美元或3.5%,至67.75美元,主要受第三季预测修订带动;并轻微下调2027财年每股盈利预测0.33美元或0.4%,至73.56美元。大摩维持对高盛“与大市同步”评级,目标价1145美元,基于预测2027年市盈率15.5倍,高于同业平均。

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