GS Early Morning Research Recap Ratings and Target Price Changes October 12, 2026 as of 5 30 AM ET

Equity Research 12 October 2026 | 6:03AM EDT

GS EARLY MORNING RESEARCH RECAP

Ratings and Target Price Changes - October 12, 2026 as of 5:30 AM ET

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

Macro/Global n GOAL, Mueller-Glissmann: Global Opportunity Asset Locator: Giving credit to balance — bonds gradually moving from headwind to hedge n China Strategy, Lau: AI Changes The Game: China is coming

Americas n Global Technology, Schneider: Semiconductors - Memory: High-performance NAND could help crumble the AI “memory wall” while driving meaningful CapEx savings n Business & Information Services, Tong: 3Q debt issuance moderates, but key growth drivers remain intact

Europe n International Workplace Group (IWG.L, Buy), Parker: Capital-light transition under appreciated by the market; initiate at Buy n Energy, Vigna: Quantifying transportation costs by oil company. US and North Sea producers most advantaged, Asian refiners the hardest hit

Asia n Asia Refining, Bhandari: Navigating the freight shock – S-Oil most protected, producer crude discounts offer relief n Japan Aerospace & Defense, Isayama: Maintain selective stance on civil aero engines; cut TPs for select stocks on lower sector multiple

The Macro Round-Up ECONOMICS Global Rates Trader: Establishing a Foothold

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