GS Early Morning Research Recap

Latest edition · September 3, 2026

GS Early Morning Research Recap Ratings and Target Price Changes September 3, 2026 as of 5 30 AM ET

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.

The September 3, 2026 edition of the GS Early Morning Research Recap summarizes global analyst calls and coverage updates. Notable equity changes include adding Kotak Mahindra Bank and NEC to the APAC Conviction List, upgrading IGO Ltd. to Buy, and downgrading GEM Co. and China Resources Building Material Technology to Sell. On the macro side, Goldman's GOAL strategy maintains a 12-month overweight on equities while taking a more defensive tactical stance, alongside commentary on central bank policy in Canada and Australia, diesel hedging rolls, and regional earnings reports across the Americas, Europe, and Asia.

Key takeaways from the latest edition

• 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.

What this series covers

• 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
• Disclosure Appendix

Edition archive

• GS Early Morning Research Recap Ratings and Target Price Changes September 3, 2026 as of 5 30 AM ET

  September 3, 2026

• GS Early Morning Research Recap Ratings and Target Price Changes September 2, 2026 as of 5 30 AM ET

  September 2, 2026

• GS Early Morning Research Recap Ratings and Target Price Changes September 1, 2026 as of 5 30 AM ET(1)

  September 1, 2026

• GS Early Morning Research Recap Ratings and Target Price Changes September 1, 2026 as of 5 30 AM ET

  September 1, 2026

• GS Early Morning Research Recap Ratings and Target Price Changes August 31, 2026 as of 5 30 AM ET(1)

  August 31, 2026

• GS Early Morning Research Recap Ratings and Target Price Changes August 31, 2026 as of 5 30 AM ET

  August 31, 2026