Report published September 2, 2026
Goldman Sachs Daily Research: Ratings & Target Price Changes (September 2, 2026)
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- September 2, 2026
- Analysis as of
- September 2, 2026
Authors / editors: Global Investment Research
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' daily morning research recap highlights a rating upgrade for Deutsche Bank to Buy and a downgrade for Societe Generale to Neutral. Key research notes also spotlight Dell Technologies' AI-driven earnings beat, global AI adoption tracking at 22.4%, and takeaways from the Asia Leaders Conference.
Key Takeaways
- 1.Deutsche Bank is upgraded to Buy from Neutral with a new target price of €43.75, supported by improving operating performance and capital optionality at an attractive valuation.
- 2.Societe Generale is downgraded to Neutral from Buy with a revised target price of €80.50, reflecting higher Markets division investments ahead of its Capital Markets Day.
- 3.Dell Technologies delivered a F2Q27 beat and raise driven by enterprise hardware refresh cycles and robust AI infrastructure demand.
Table of Contents
- The Calls Around the World to Focus on Today
- The Macro Round-Up
- STRATEGY
- 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 September 2, 2026.
| Metric | Estimate | Context |
|---|---|---|
| AI Adoption Rate | 22.4% | Global AI Adoption Tracker metric for August 2026. |
| HMC and Kia US Market Share | 12.9% | Combined US market share for Hyundai Motor Company and Kia in August. |
| US Auto SAAR | 16.8 million units | August US seasonally adjusted annual rate (SAAR) for autos. |
| Deutsche Bank Price Target | 43.75 EUR | New price target following upgrade to Buy (+27% upside from last price of €34.51). |
| Societe Generale Price Target | 80.5 EUR | New price target following downgrade to Neutral (+10% upside from last price of €73.29). |
Reports in this series
GS Early Morning Research Recap is shown in chronological order through this edition, published on September 2, 2026.
Part of the GS Early Morning Research Recap series — view all 18 editions
Looking for the latest edition? GS Early Morning Research Recap Ratings and Target Price Changes September 14, 2026 as of 5 30 AM ET (Sep 14, 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 14GS Early Morning Research Recap Ratings and Target Price Changes - August 14, 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
- Aug 31GS Early Morning Research Recap Ratings and Target Price Changes August 31, 2026 as of 5 30 AM ET(1)
- Aug 31GS Early Morning Research Recap Ratings and Target Price Changes August 31, 2026 as of 5 30 AM ET
- Sep 1GS Early Morning Research Recap Ratings and Target Price Changes September 1, 2026 as of 5 30 AM ET(1)
- Sep 1GS Early Morning Research Recap Ratings and Target Price Changes September 1, 2026 as of 5 30 AM ET
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Authors / Editors
Reported Data Context
- AI Adoption Rate: 22.4 % (August 2026) · Source: Goldman Sachs Global Investment Research
- HMC and Kia US Market Share: 12.9 % (August 2026) · Source: Goldman Sachs Global Investment Research
- US Auto SAAR: 16.8 million units (August 2026) · Source: Goldman Sachs Global Investment Research
- Deutsche Bank Price Target: 43.75 EUR (Current) · Source: Goldman Sachs Global Investment Research
- Societe Generale Price Target: 80.5 EUR (Current) · Source: Goldman Sachs Global Investment Research
Securities
Themes
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