Early Morning Research Recap Ratings And Target Price Changes

Goldman Sachs' May 14, 2026 morning recap highlights ratings downgrades for Whirlpool and Bandai Namco, an upgrade for Epiroc, and upward revisions to Japan's GDP tracking.

Key Takeaways

• 1.Significant rating changes include Whirlpool (WHR) downgraded to Neutral from Buy, and Bandai Namco Holdings (7832.T) downgraded to Sell from Buy.
• 2.Epiroc (EPIRa.ST) upgraded to Buy from Neutral as margin recovery is reportedly underway.
• 3.Japan's 2026Q1 Real GDP tracking estimate was raised to +1.3% QoQ annualized following a March data roundup.

Table of Contents

• Macro/Global
• Americas
• Europe
• Asia
• The macro round-up
• Economics
• Strategy
• Rating and Conviction List Changes
• Links to Rating and Conviction List Changes
• Notable Stock Research to consider
• Energy and Utilities
• Consumer/Retail
• Financials
• Healthcare
• Industrials and Basic Materials
• TMT
• LatAm
• ASEAN & New Zealand
• Target Price Changes (10% or greater)
• Conference Calls & Conferences
• Disclosure Appendix

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