JPMorgan says Goldman Sachs is ‘top global’ investment banking stock pick for next year

• JPMorgan reiterated its overweight rating for Goldman Sachs shares, saying it is more optimistic over the bank's prospects after a meeting with company executives.
• Goldman Sachs "has shown excellent progress when it comes to delivering shareholder value through strong cost management, creating positive operating leverage," the firm's analyst writes.

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Goldman Sachs shareholders will be rewarded by the bank's stock buybacks and dividend payments and by its sales growth opportunities, according to one top Wall Street firm.

JPMorgan reiterated its overweight rating for Goldman Sachs shares, saying it is more optimistic over the investment bank's prospects after a meeting with company executives.