Goldman CEO ‘not going anywhere anytime soon,’ says Wells Fargo

Wells Fargo analyst Mike Mayo keeps an Overweight rating Goldman Sachs (GS) with a $390 price target after meeting with Adebayo Ogunlesi, the lead director of the company’s board. Ogunlesi said Goldman’s strategy, execution, results, and reputation remain strong, the analyst tells investors in a research note. As a result, the firm believes Goldman CEO David Solomon will stay in his role “for at least the medium term.” Bayo seemed very supportive of the CEO, making it clear that there is a disconnect between media reports and the board’s conclusions from their oversight, Wells notes. Its conclusion is that Solomon “is not going anywhere anytime soon.”