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Goldman Sachs shares rise after bank gives higher financial targets at first-ever investor day

January 29, 2020


Goldman Sachs released new financial targets for higher returns at its first-ever investor day.

The company said Wednesday in a release that return on tangible common shareholders’ equity will exceed 14% within three years. Last year, the firm posted ROTE of 10.6%, brought down in part by $1.24 billion in legal costs.

Goldman said that in the longer term, returns would be in the “mid-teens or higher” as its nascent businesses, including in retail banking, mature. Those return targets are similar to those given this month by its rival Morgan Stanley.

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