GS EARLY MORNING RESEARCH RECAP Ratings and Target Price Changes - July 29,2026 as of 5:30 AM ET

Research evidence excerpt

GS EARLY MORNING RESEARCH RECAP Ratings and Target Price Changes - July 29,2026 as of 5:30 AM ET

Goldman Sachs GS Early Morning Research Recap

29 Jul 2026 | Economics Research - Andrew Tilton, Kamakshya Trivedi, Kevin Daly,

Clemens Grafe, Sunil Koul, Goohoon Kwon, CFA, Andrew Matheny, Alberto Ramos,

Santanu Sengupta, Hui Shan, Farouk Soussa, Danny Suwanapruti

European Daily: Sources of Resilience

28 Jul 2026 | Economics Research - Sven Jari Stehn, Filippo Taddei, Alexandre Stott,

James Moberly, Niklas Garnadt, Katya Vashkinskaya, Giovanni Pierdomenico

Asia Economics Analyst: Gen-AI in India: Jobs Crosswinds, Productivity Tailwinds

28 Jul 2026 | Economics Research - Santanu Sengupta, Arjun Varma, Andrew Tilton

STRATEGY

Asia-Pacific Portfolio Strategy: Asian equity market daily update

28 Jul 2026 | Portfolio Strategy Research - Timothy Moe, CFA, Alvin So, CFA, Sunil Koul,

Kinger Lau, CFA, John Kwon, Amorita Goel, CFA

China Musings: Investor FAQs on Large-Scale IPOs

28 Jul 2026 | Portfolio Strategy Research - Kinger Lau, CFA, Timothy Moe, CFA, Si Fu,

Ph.D., Kevin Wang, CFA

COMMODITIES

Oil Tracker: Persian Gulf De-escalation vs. Red Sea Escalation

28 Jul 2026 | Commodities Research - Yulia Zhestkova Grigsby, Alexandra Paulus, Filippo

Cuscito, Daan Struyven

Natural Gas Comment: Risks to TTF Remain Skewed to The Upside in The Near Term

27 Jul 2026 | Commodities Research - Samantha Dart, Laura Cyr

Rating and Conviction List Changes

Americas

Company Name Ticker Rating (New) Rating (Old)

Steel Dynamics Inc. STLD Buy Not Rated

Gemini Space Station Inc. GEMI  Sell Neutral

Europe

Swissquote Group SQN.S  Buy Neutral

Asia

BDO Unibank BDO.PS  Neutral Buy

Source: Goldman Sachs Global Investment Research

Links to Rating and Conviction List Changes

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