GS Early Morning Research Recap Ratings and Target Price Changes August 18, 2026 as of 5 30 AM ET

Equity Research 18 August 2026 | 5:49AM EDT

GS EARLY MORNING RESEARCH RECAP

Ratings and Target Price Changes - August 18, 2026 as of 5:30 AM ET

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

Macro/Global n Global Markets Analyst, Jenkins: Finding Factors in FX Markets

Americas n Scribe Therapeutics Inc. (SCTX, Early-Stage Biotech), Law: Developing a Highly Durable PCSK9 Epigenetic Silencer to Address Real World Adherence Problems, Initiate with Early-Stage Biotech (ESB) n Apparel Retail, Roach: Refreshing our off-price trackers and highlighting key debates

Europe n Argenx SE (ARGX.BR, Buy; on CL), Sharma: Outlook remains favourable following positive ALKIVIA data; reiterate Buy (on CL) n Europe Multi-Industry, Costa: What PPI tells us about Multi-Industry

Asia n Navigating China Internet, Keung: eCommerce tracker: July industry online retail GMV +3%; eCommerce & Meituan earnings expectations n Japan Transportation, Miyazaki: Earnings wrap-up: Shipping/airlines earnings outlook set to move up another notch; maintain Buy on MOL, ANA, and Japan Post HD

The Macro Round-Up ECONOMICS Global Markets Analyst: Finding Factors in FX Markets

17 Aug 2026 | Economics Research - Stuart Jenkins, Michael Cahill, Karen Reichgott Fishman, Lexi Kanter

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Goldman Sachs GS Early Morning Research Recap

Canada Economics Comment: Headline and Core Surprise to the Upside on Energy Prices and World Cup Effects

17 Aug 2026 | Economics Research - Megan Peters

Global Markets Comment: Market Stress Monitor — 17 August 2026

17 Aug 2026 | Economics Research - William Marshall, Friedrich Schaper

STRATEGY GOAL Kickstart: Summer data-only update

17 Aug 2026 | Portfolio Strategy Research - Christian Mueller-Glissmann, CFA, Andrea Ferrario, Alessandro Giglio, Elena Porfidia, Peter Oppenheimer

Global Weekly Kickstart: Strong earnings momentum on both sides of the Atlantic

17 Aug 2026 | Portfolio Strategy Research - Guillaume Jaisson, Peter Oppenheimer, Sharon Bell, John Kwon, Elena Porfidia, Jacinta Feng

17 Aug 2026 | Equity Research - Deep Mehta, Kshitij Garg

Asia-Pacific Portfolio Strategy: Asian equity market daily update

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

Rating and Conviction List Changes

Americas Company Name Ticker Rating (New) Rating (Old) Scribe Therapeutics Inc. SCTX Early-Stage Biotech - Europe Company Name Ticker Rating (New) Rating (Old) None. Asia Company Name Ticker Rating (New) Rating (Old) None.

Source: Goldman Sachs Global Investment Research

Links to Rating and Conviction List Changes Americas n SCTX: Developing a Highly...

Notable Stock Research to Consider: AMERICAS Energy and Utilities:

Targa Resources Corp. (TRGP): Significant New Permian Agreements with XOM Drive Further EBITDA Upside