GS · News · 20261001N

Capital Markets Demand Trends

GOLDMAN SACHS GROUP INC · 2026-10-01 · Importance 17 · Surprise 24

Goldman Sachs identified European capital-markets stocks CVC Capital Partners, ICG, and flatexDEGIRO as potential beneficiaries of improved private-market exits, passive investment flows, and increased retail participation. Goldman highlighted flatexDEGIRO’s potential exposure to German pension reform and new products. The commentary indicates improving conditions for European private-market fundraising, exits, and retail-oriented investment distribution.

Key facts

• Goldman Sachs removed Air Products (APD) from its October Director’s Cut list (Air Products shares fell 3.0% due to the removal and ex-dividend trading). source
• Goldman Sachs identified CVC Capital Partners, ICG, and flatexDEGIRO as top European capital-markets stock picks for Q4. source
• Goldman Sachs upgraded Occidental Petroleum (OXY) to Buy from Neutral and lifted its price target to $69 from $63. source
• Goldman Sachs increased its price target for Danaher (DHR) from USD 210.00 to USD 250.00 and reiterated a buy rating. source
• Goldman Sachs maintained a Neutral rating on Phillips 66 (PSX) and raised its price target from $245.00 to $274.00. source
• Goldman Sachs lowered its price target for T-Mobile US (TMUS) from USD 230.00 to USD 211.00 while maintaining a Buy rating. source
• Goldman Sachs's analysis showed flatexDEGIRO with a potential upside of 66%, CVC Capital Partners with an implied upside of 63%, and ICG with an implied upside of 60%. source
• Goldman Sachs reduced its price target for EOG Resources from $151 to $148 while maintaining a Neutral rating on the stock. source