GS Early Morning Research Recap Ratings and Target Price Changes August 21, 2026 as of 5 30 AM ET

Equity Research 21 August 2026 | 6:13AM EDT

GS EARLY MORNING RESEARCH RECAP

Ratings and Target Price Changes - August 21, 2026 as of 5:30 AM ET

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

Macro/Global n G10 Consumer Dashboard, Peters: July 2026: Spending Starts to Slow

n Hedge Fund Trend Monitor: Down but not out

Americas n Technology, Tong: Takeaways From Our 3rd Annual Silicon Valley AI Field Trip

n Walmart Inc. (WMT, Buy), McShane: Q2 top line slows sequentially, while 2026 guidance is raised; Tariff refunds are being invested in price to drive further share gains

Europe n CVC Capital Partners (CVC.AS, Buy; on CL): Strategic partnership with Standard Life to launch PRT platform n Europe Multi-Industry, Costa: What Global Capacity Utilization and Leasing Data tell us about Multi-Industry

Asia n India Financials, Kariwala: Core PPoP recovery to drive stock returns; initiating coverage of 14 stocks n Japan Healthcare, Ueda: Catalyst Watch: Focus on potential for business briefings and pipeline data to impact company outlooks

The Macro Round-Up ECONOMICS Global Markets Daily: Fed Communication And Term Premium

20 Aug 2026 | Economics Research - Friedrich Schaper, George Cole, William Marshall, Simon Freycenet, Isabella Rosenberg, Loic Mathys

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Goldman Sachs GS Early Morning Research Recap

G10 Consumer Dashboard: July 2026: Spending Starts to Slow

21 Aug 2026 | Economics Research - Megan Peters, Jan Hatzius, Joseph Briggs, Sarah Dong

STRATEGY Global Credit Trader: IG Private Placements—No Longer Niche

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

Hedge Fund Trend Monitor: Down but not out

20 Aug 2026 | Portfolio Strategy Research - Ben Snider, Ryan Hammond, Daniel Chavez, Kartik Jayachandran, Christophe Sung

European Conviction List - Directors’ Cut: August 20, 2026 Update

20 Aug 2026 | Equity Research - Jessica Binder Graham, CFA, Sahar Islam

Asia-Pacific Portfolio Strategy: Asian equity market daily update

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

COMMODITIES Oil Analyst: Running Hard or Hardly Running: Effect of Refinery Outages on Runs and Margins

20 Aug 2026 | Commodities Research - Yulia Zhestkova Grigsby, Filippo Cuscito, Daan Struyven