Oppenheimer has downgraded major U.S. investment banks like Goldman Sachs and Morgan Stanley, citing limited upside despite a positive environment. The brokerage advises selling these large-cap banks and instead investing in alternative asset managers, whose shares have seen a significant sell-off. Oppenheimer believes investment banks are in the late stages of an expansionary cycle and suggests reallocating funds to commercial banks and alternative managers like Ares Management, Blackstone, and KKR.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets