Goldman Sachs Added Olympic Steel (ZEUS) to their Conviction Sell List, Removes WOR

Goldman Sachs added Olympic Steel Inc. (Nasdaq: ZEUS) to their Conviction Sell List, while removing Worthington Industries, Inc. (NYSE: WOR) from the Sell list but keeping the overall Sell rating.

The firm said ZEUS offers most potential downside to target price in our coverage. The firm also lowered 4Q2009/2010/2011 estimates for ZEUS to $0.12/$1.15/$2.00 from $0.25/$1.50/$2.25. The firm lowered their downside price target from $23 to $22, implying downside of 19%.

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