50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Newmark stock rated Buy by Goldman Sachs, expects strong upside and balance sheet flexibility

EditorAhmed Abdulazez Abdulkadir
Published 06/12/2024, 10:40 pm
NMRK
-

On Friday, Newmark Group , Inc. (NASDAQ:NMRK) received a positive outlook from Goldman Sachs (NYSE:GS) as the firm initiated coverage with a Buy rating and set a price target of $19.00. The firm's analyst highlighted a potential 25% upside to the company's stock, citing several key factors that support a constructive view on the Newmark Group's prospects.

The analyst pointed to the company's successful market share gains in investment sales and debt advisory/placement as a primary driver for the optimistic rating. Additionally, the potential for growth in its Global Corporate Services (GCS) business was noted as a promising opportunity for Newmark Group.

Furthermore, the analyst underscored the company's strong financial position, mentioning its low leverage and abundant liquidity. This robust balance sheet provides Newmark Group with the flexibility to pursue growth initiatives and return cash to shareholders, which are seen as positive indicators for the company's future performance.

The analyst's remarks emphasize the belief in Newmark Group's ability to leverage its current market position and financial health to deliver value to its investors. With the Buy rating and a $19.00 price target, Goldman Sachs signals confidence in the company's direction and potential for stock appreciation over the next 12 months.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.