Analyst downgrades: U.S. brokers, GS and RIMM
Posted Jun 26th 2008 11:36AM by Eric Buscemi
Filed under: Analyst reports, Analyst upgrades and downgrades, General Motors (GM), Citigroup Inc. (C), Research in Motion (RIMM), Goldman Sachs Group (GS), Morgan Stanley (MS), Red Hat Inc (RHT)
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MOST NOTEWORTHY: The U.S. Brokers sector, Goldman Sachs and Research in Motion were today's noteworthy downgrades:
- Goldman downgraded U.S. Brokers to Neutral from Attractive since they can not find a catalyst to move the group significantly higher over the next few months given the continued deterioration in fundamentals. Goldman added Citigroup (NYSE:C) to their Conviction Sell List as they expect additional write-downs of $8.9B in Q2 and see the potential for additional capital raises. Goldman lowered their target price on Citigroup shares to $16 and recommends a pair trade of long Morgan Stanley (NYSE:MS), short Citigroup.
- Wachovia downgraded Goldman Sachs (NYSE:GS) shares to Market Perform from Outperform on renewed economic fears, a likely slower pace of substantial capital raises, seasonally slower prime brokerage, and valuation.
- Research in Motion (NASDAQ:RIMM) was cut to Market Perform from Outperform at JMP Securities following the weaker-than-expected Q1 report and guidance and lowered FY09 EPS estimates on increased spending.
OTHER DOWNGRADES:
Tags: analystdowngrades, BSY, C, GM, GS, MS, RHT, RIMM
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Reader Comments (Page 1 of 1)
6-26-2008 @ 2:42PM
Gumby said...
Goldman Sachs are the SQUIRRELS of Wall Street. Road kill Goldman Sachs now!
6-26-2008 @ 12:56PM
gumbo koontz said...
Goldman Sachs Is the Squirrel of Wall Street! Roadkill time!! Gentlerednecks, start your engines now!