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The European Commission has approved the acquisition of joint control of OMH HealthEdge Holdings by Goldman Sachs Group and the Ontario Teachers' Pension Plan Board. This transaction, which focuses on revenue cycle management services for U.S. healthcare organizations, was deemed not to raise competition concerns due to its limited impact on the European Economic Area.
US Bancorp has received a Buy rating from Bank of America analyst Ebrahim Poonawala, who set a price target of $49.00. The positive outlook is driven by expected earnings growth, improved payments revenue, and disciplined expense management, despite current investor hesitance. Barclays also maintains a Buy rating with a higher price target of $61.00.
Goldman Sachs raised its target price for Reddit shares from $105 to $176, maintaining a "neutral" rating, while JPMorgan increased theirs from $142 to $185. Analysts show a consensus rating of "Moderate Buy" with a target price of $173.45, despite one sell rating among 21 analysts. Reddit's CFO recently sold over 48,000 shares, reflecting a 7.43% decrease in their position. The stock opened at $127.71, with a market cap of $23.10 billion and a PE ratio of -16.52.
BNP Paribas Exane has raised its price target on Goldman Sachs Group to $625 from $525 while maintaining a neutral rating. Goldman Sachs specializes in investment services, with 64.9% of revenues from investment banking, 30% from asset and wealth management, and 5.1% from financial services. Geographically, 63.4% of revenues come from the Americas, 25.4% from Europe/Middle East/Africa, and 11.2% from Asia.
Goldman Sachs lowered its price target on Cintas from $236 to $211, maintaining a "buy" rating, while Morgan Stanley raised its target from $185 to $202 with an "equal weight" rating. UBS also reduced its target to $218, and Wells Fargo set it at $184 with an "underweight" rating. Currently, Cintas has a consensus "Hold" rating and a target price of $198.46, with institutional investors holding 63.46% of the stock. The company reported a quarterly EPS of $1.09, exceeding estimates, and declared a dividend of $0.39 per share.
BorgWarner's executive vice president sold shares at an average price of $34.47, totaling $698,569, reducing their stake by 38.51%. The company has seen significant insider selling, with 222,010 shares sold over the last three months, while hedge funds hold 95.67% of the stock. Analysts have lowered price targets, with Barclays setting a new target of $43.00, suggesting a potential upside from the previous close.
FMR LLC increased its stake in Spotify Technology by 23.4%, owning 1,567,818 shares valued at $577.8 million, while Two Sigma Advisers LP raised its position by 19.0% to 980,000 shares worth $361.2 million. Institutional investors hold 84.09% of Spotify's stock, which has a "Moderate Buy" rating and a consensus price target of $438.36. Recently, UBS Group raised its price target for Spotify from $485 to $540, indicating a potential upside of 10.25%.
The Dow Jones Industrial Average has experienced a nine-day losing streak, the longest since February 1978, during which it fell over 4%. Historically, such declines have been followed by significant rebounds, with a 14% increase over the next three months and a 20% rise in six months. However, the Dow has consistently underperformed the S&P 500, raising concerns about its current valuation relative to projected earnings growth.
Steel Dynamics' senior vice president now owns 116,949 shares valued at approximately $16.7 million, reflecting a 5.38% decrease in ownership. Insiders sold 28,591 shares worth $3.9 million last quarter, while institutional investors hold 82.41% of the stock. Analysts maintain a "Hold" rating, with price targets ranging from $134 to $155.
India's GDP growth has sharply decelerated to 5.4% for the July to September period, marking a seven-quarter low and falling short of both consensus estimates and the Reserve Bank of India's 7% projection. This "growth shock" has led economists from major firms like Goldman Sachs and Barclays to revise their full-year forecasts downward, with Goldman now projecting 6% growth through March 2025. Analysts attribute the slowdown to significantly lower manufacturing growth and anticipate continued weakness in urban consumption due to reduced incomes.
GOLDMAN SACHS GROUP
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EU approves Goldman Sachs and Ontario Teachers acquisition of OMH HealthEdge
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11:46 30.11.2024
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