Barclays Long-Term Thesis on Goldman Sachs (GS) Remains Quite Compelling, However...

May 18, 2012 2:36 PM EDT
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Price: $240.77 -1.44%

Rating Summary:
    19 Buy, 14 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 30 | New: 8
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Barclays maintains an 'Equalweight' on Goldman Sachs (NYSE: GS) price target of $145.00.

Analyst, Roger A. Freeman, commented after meeting with GS, "Management struck a cautious tone with respect to the current environment in our meeting yesterday, noting low risk appetite and trading volumes caused by uncertainty and lack of conviction among corporate and institutional clients alike, as well as still-low levels of inventory."

Freeman also described the conversation about the environment as having an 'eerie' resemblance to last year, however, there are a few additional positives in play, including 1) Market indicators appearing better; 2) If current issues are short-lived, things could swing up quickly. Overall, long-term things look quite compelling, but until things like the JPMorgan (NYSE: JPM) issue die down, and the marco environment becomes more stable, there will be headwinds to deal with.

For an analyst ratings summary and ratings history on Goldman Sachs click here. For more ratings news on Goldman Sachs click here.

Shares of Goldman Sachs closed at $97.08 yesterday.

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