GS Early Morning Research Recap Ratings and Target Price Changes August 14, 2026 as of 5 30 AM ET

Equity Research 14 August 2026 | 5:58AM EDT

GS EARLY MORNING RESEARCH RECAP

Ratings and Target Price Changes - August 14, 2026 as of 5:30 AM ET

The Calls Around the World to Focus on Today Global Investment Research

Macro/Global n Oil Tracker, Paulus: Global Inventories Draw, Demand Rises

n Global Credit Trader, Lynam: Redefining Quality in Credit

Americas n Applied Materials Inc. (AMAT, Buy; on CL), Schneider: Strong guidance sets the stage for accelerating growth in 2027 n Golar LNG (GLNG, Buy; on CL), Mackay: 2Q26 Recap: Fourth Vessel FID Achieved; Shipyard Slots for Vessels 5-7 Support Organic Growth + M&A Optionality.

Europe n GCC TMT & Infrastructure, AlAzmeh: Post-2Q26 recap: from disruption to normalization n Douglas AG (DOUn.DE, Sell), Edwards: 3Q26 results highlight ongoing structural pressures from a challenging market growth outlook and elevated competitive intensity; TP to €7, down to Sell (from Neutral)

Asia n Japan Electronic Components/Semiconductors, Takayama: Earnings summary: we expect a series of upward revisions in the next reporting season; maintain Buy on Ibiden/Murata/Taiyo Yuden/Renesas/Rohm/TDK, etc n China Consumer Connection, Zhou: Online Brand Tracker: Jul-26: Ongoing weakness across most categories; Beer/White goods lag

Global Markets Daily: Diesel, Not Crude, Remains the Cleaner Geopolitical Hedge

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Goldman Sachs GS Early Morning Research Recap

13 Aug 2026 | Economics Research - Daan Struyven, Filippo Cuscito

Global Markets Daily: Yen Carry Positioning: Diminished, Not Finished

13 Aug 2026 | Economics Research - Karen Reichgott Fishman

Japan Weekly Kickstart: 1Q 3/27 results summary

14 Aug 2026 | Portfolio Strategy Research - Bruce Kirk, CFA, Julius Chan

Global Credit Trader: Redefining Quality in Credit

13 Aug 2026 | Credit Strategy Research - Amanda Lynam, CPA, Spencer Rogers, CFA, Sara Grut, Shamshad Ali

Asia-Pacific Portfolio Strategy: Asian equity market daily update

13 Aug 2026 | Portfolio Strategy Research - Timothy Moe, CFA, Alvin So, CFA, Sunil Koul, Kinger Lau, CFA, John Kwon, Amorita Goel, CFA

Oil Tracker: Global Inventories Draw, Demand Rises

13 Aug 2026 | Commodities Research - Alexandra Paulus, Daan Struyven, Yulia Zhestkova Grigsby, Filippo Cuscito

Rating and Conviction List Changes

Americas Company Name Ticker Rating (New) Rating (Old) None Europe Company Name Ticker Rating (New) Rating (Old) Douglas AG DOUn.DE  Sell Neutral Asia Company Name Ticker Rating (New) Rating (Old) None

Source: Goldman Sachs Global Investment Research

Links to Rating and Conviction List Changes Europe n Douglas AG: 3Q26 results...

Notable Stock Research to Consider: AMERICAS Energy and Utilities:

Kosmos Energy Ltd. (KOS): Improving Operations in West Africa, But See Less Upside Relative After Strong LTM Share Performance

14 Aug 2026 | Equity Research - Neil Mehta, Lydia Gould, Josiah Knight

South Bow Corp. (SOBO.TO): 2Q26 Recap: Gulf Coast Strength Drives Beat; Prairie