Goldman shares could rise 30 percent in next year: Barron's

Sun Jun 26, 2016 3:30pm EDT
 
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NEW YORK (Reuters) - Goldman Sachs Group (GS.N: Quote) shares could rise as much as 30 percent over the next year if the U.S. bank buys back stock and cuts costs, according to a report in Barron's.

The Barron's report said the company's shares have fallen too far, especially after losing 7 percent of their value on Friday after Britain's referendum vote to leave the European Union.

It said the bank's book value per share has tripled in the last ten years, while its share price has stayed basically flat.

Shares of Goldman Sachs closed at $141.86 on the New York Stock Exchange on Friday.

(Reporting by Michael Erman; Editing by Chris Reese)

 
The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo