goldman sachs is a buying opportunity that can jump 40 from here according to keefe bruyette  woods analyst david konrad upgraded shares of goldman sachs to outperform from market perform saying that the the firms valuation based on tangible book value tbv looks attractive we are upgrading goldman sachs to outperform from market perform due to an attractive valuation of just under forward tbv strong tbv growth improved capital allocation and potential nearterm benefits of strong ficc results over what could be a volatile next few quarters konrad wrote goldman sachs has come under pressure this year with shares down 204 as the firm contended with growing concern over a recession and a dearth of investment banking still the analyst said he specifically approves of the banks efforts to move private equity assets over to a third party will help reduce revenue volatility for goldman sachs while also growing its alternatives asset business we believe the shift in business mix will result in more visible earnings and a higher valuation read the note other nearterm catalysts cited include better tbv growth than peers efficient use of capital a better deposit mix as goldman sachs manages more corporate treasurys and the likelihood of better fixed income currencies and commodities trading revenue due to market volatility kbw raised its price target on the stock to 429 from 395 the new price target is 408 above where shares closed thursday at 30467 the stock is up 04 in friday premarket trading —cnbcs michael bloom contributed to this report