Oct. 13 (Bloomberg) — Goldman Sachs Group Inc., the biggest U.S. securities firm before converting to a bank last year, was cut to “neutral” by Meredith Whitney, as the analyst dropped her only “buy” recommendation.
Whitney, who correctly predicted in 2007 that Citigroup Inc. would cut its dividend, didn’t update her price estimate on the shares in a summary note distributed to investors today. Further details on the downgrade weren’t immediately available.
While we have no idea about Whitney’s reasoning, we can note that her last action on Goldman was an upgrade (also expurgated for the media) from `neutral’ to `buy’ right before the bank released its record second-quarter results. That upgrade, incidentally, sent GS shares — and the whole of the US equity market — rallying.
Goldman Sachs is scheduled to report third-quarter earnings on Thursday.
http://ftalphaville.ft.com/blog/2009...man-downgrade/
Please visit our sponsors
Results 1 to 1 of 1
Thread: Meredith Whitney downgrades GS
-
15-10-2009, 02:21 PM #1
- Join Date
- Apr 2008
- Posts
- 243
- Feedback Score
- 0
- Thanks
- 0
- Thanked 6 Times in 6 Posts
Meredith Whitney downgrades GS
-
Sponsored Links
-
Sponsored Links
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
24 Hour Gold
Advertising
- Over 20.000 UNIQUE Daily!
- Get Maximum Exposure For Your Site!
- Get QUALITY Converting Traffic!
- Advertise Here Today!
Out Of Billions Of Website's Online.
Members Are Online From.
- Get Maximum Exposure For Your Site!
- Get QUALITY Converting Traffic!
- Advertise Here Today!
Out Of Billions Of Website's Online.
Members Are Online From.