Report published August 31, 2026
Goldman Sachs Early Morning Research Recap: Ratings & Target Price Changes (August 31, 2026)
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 31, 2026
- Analysis as of
- August 31, 2026
Authors / editors: Global Investment Research (Research Division)
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.
Goldman Sachs' August 31, 2026 Early Morning Research Recap summarizes key global research calls, including initiations on Braveheart Bio, JTEKT, and GenFleet at Buy, and an upgrade of Capstone Copper to Buy. It also highlights major price target revisions, macroeconomic insights from Jackson Hole, and upcoming investor conferences.
Key Takeaways
- 1.Goldman Sachs published key rating changes, initiating coverage on Braveheart Bio (BRVE) at Buy, JTEKT Corp. (6473.T) at Buy, and GenFleet Therapeutics (2595.HK) at Buy, while upgrading Capstone Copper (CS.TO) to Buy.
- 2.Rating downgrades were enacted on Guangzhou Automobile Group (2238.HK to Sell) and Mitsubishi Gas Chemical (4182.T to Neutral).
- 3.Significant price target revisions (10%+ changes) were implemented across global equities, including a target hike for Capstone Copper (to C$18.00) and substantial target cuts on Shenzhen Kstar, Shenzhen SC New Energy, Mitsubishi Gas Chemical, and Guangzhou Automobile Group.
Table of Contents
- The Calls Around the World to Focus on Today
- The Macro Round-Up
- Rating and Conviction List Changes
- Links to Rating and Conviction List Changes
- Notable Stock Research to Consider:
- Target Price Changes (10% or greater):
- Webinars, Podcasts & Conferences
- Disclosure Appendix
Report data
Rating and Conviction List Changes — as of August 31, 2026.
| Metric | Estimate | Context |
|---|---|---|
| TOPIX 12-Month Target | 4600 index points | Revising 12M TOPIX target to 4600 on stronger-than-expected 1Q earnings season. |
| EM/Asian Fund Inflows/Return | 5% | Following the July drawdown, EM/Asian funds gained 5% in August. |
| India Autos 2W Retail Growth | 22% | India 2-Wheeler retail sales growth at +22% YoY in August. |
| India Autos Car Retail Growth | 14% | India passenger car retail sales growth at +14% YoY in August. |
| Global Equity Coverage Rating Distribution - Buy | 50% | Percentage of global equity universe assigned a Buy rating across 3,104 rated equity securities. |
Reports in this series
GS Early Morning Research Recap is shown in chronological order through this edition, published on August 31, 2026.
Part of the GS Early Morning Research Recap series — view all 12 editions
Looking for the latest edition? GS Early Morning Research Recap Ratings and Target Price Changes September 3, 2026 as of 5 30 AM ET (Sep 3, 2026)
- Jun 11GS EARLY MORNING RESEARCH RECAP Ratings and Target Price Changes - June 11, 2026 as of 530 AM ET
- Aug 13GS Early Morning Research Recap Ratings and Target Price Changes - August 13, 2026 as of 5 30 AM ET
- Aug 13GS Early Morning Research Recap Ratings and Target Price Changes - August 13, 2026 as of 5 30 AM ET
- Aug 26GS Early Morning Research Recap Ratings and Target Price Changes August 26, 2026 as of 5 30 AM ET
- Aug 27GS Early Morning Research Recap Ratings and Target Price Changes August 27, 2026 as of 5 30 AM ET
- Aug 28GS Early Morning Research Recap Ratings and Target Price Changes August 28, 2026 as of 5 30 AM ET
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Authors / Editors
Reported Data Context
- TOPIX 12-Month Target: 4600 index points (12-month horizon) · Source: Goldman Sachs Portfolio Strategy Research
- EM/Asian Fund Inflows/Return: 5 % (August 2026) · Source: Goldman Sachs Portfolio Strategy Research
- India Autos 2W Retail Growth: 22 % (August 2026 YoY) · Source: Goldman Sachs Equity Research
- India Autos Car Retail Growth: 14 % (August 2026 YoY) · Source: Goldman Sachs Equity Research
- Global Equity Coverage Rating Distribution - Buy: 50 % (As of July 1, 2026) · Source: Goldman Sachs Global Investment Research
Securities
Themes
Regions
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