Report published September 25, 2026

Goldman Sachs: Early Morning Research Recap: Ratings and Target Price Changes (September 25, 2026)

Goldman Sachs · September 25, 2026

This daily research recap compiles Goldman Sachs' morning equity calls, rating changes, and target price revisions across global markets as of September 25, 2026. Key actions include upgrading Alsea to Neutral and lowering EssilorLuxottica's target price by 17.5%.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Alsea (ALSEA.MX) was upgraded from Sell to Neutral as short-term challenges are seen as mostly priced in.
2.EssilorLuxottica (ESLX.PA) saw a major price target cut from €200.00 to €165.00 while maintaining a Neutral rating.
3.ICBC (1398.HK) price target was raised from HK$6.92 to HK$7.71 with a Neutral rating maintained.

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The Macro Round-Up
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Notable Stock Research to Consider:
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Report data

Target Price Changes (10% or greater) — as of September 25, 2026.

Metric	Estimate	Context
EssilorLuxottica Target Price	165.00 EUR	New target price reduced from 200.00 EUR
ICBC Target Price	7.71 HKD	New target price raised from 6.92 HKD
EssilorLuxottica Upside / Downside	14%	Implied upside to new target price of €165.00 from last price of €144.7
Number of Rated Equity Securities in Coverage Universe	3104 securities	Goldman Sachs Global Investment Research investment ratings universe