Report published September 3, 2026

Goldman Sachs Research Recap: Global Ratings and Target Price Changes (September 3, 2026)

Goldman Sachs · September 3, 2026

Goldman Sachs' daily research recap highlights key global equity rating changes and target adjustments as of September 3, 2026. Major updates include additions to the APAC Conviction List, an upgrade of IGO Ltd. to Buy, and selective target price cuts in Asian materials.

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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.Goldman Sachs adjusted its APAC Conviction List by adding Kotak Mahindra Bank and NEC, while removing Jardine Matheson, Haitian Flavouring, WuXi AppTec, and Shenzhen Inovance.
2.Key regional rating shifts in Asia include upgrading IGO Ltd. to Buy from Neutral, while downgrading GEM Co. and China Resources Building Material Tech to Sell.
3.Portfolio strategy maintains a 12-month overweight on equities via GOAL, though advocating a more defensive tactical positioning as rotation moderates.

Macro/Global
Americas
Europe
Asia
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

Report data

Rating and Conviction List Changes — as of September 3, 2026.

Metric	Estimate	Context
LatAm Oil Production Growth	1.3 mmbpd	LatAm oil production year-over-year increase in 2Q26
US RevPAR Growth	1.7%	Americas lodging revenue per available room growth year-over-year
IGO Ltd NAV Potential Addition	1 A$bn	Greenbushes product and asset optimisations potential addition to IGO NAV
Galaxy Entertainment GGR Market Share	22%	Gross gaming revenue market share sustained in Jul-Aug post World Cup