Goldman Sachs(US:GS) Ge Long Hui A P P·2025-10-15 14:57Core Viewpoint - Morgan Stanley's report indicates that market optimism for Goldman Sachs' earnings per share (EPS) exceeding expectations has been tempered by stricter Supplementary Leverage Ratio (SLR) regulations, leading to a 3% downward revision of Goldman Sachs' EPS forecast for 2027 [1] Financial Performance - Morgan Stanley has adjusted Goldman Sachs' EPS estimates for the next two years down by 3%, resulting in projections of $53.82 and $63.72 for the respective years, influenced by higher shares outstanding, elevated non-compensation and compensation expenses, and lower trading revenues [1] - The downward revisions were partially offset by increased revenues from asset and wealth management, as well as from currency, commodities, platform solutions, and investment banking [1] Target Price and Rating - Morgan Stanley has lowered Goldman Sachs' target price from $854 to $828, maintaining a price-to-earnings (P/E) ratio of 13x based on the revised EPS forecast for 2027, with a rating of "in line with the market" [1]