Ladenburg Thalman Analyst Dick Bove Cuts Estimates On Goldman Sachs (GS) and Lehman Brothers (LEH)

This morning Ladenburg Thalman analyst Dick Bove cut EPS estimates on Goldman Sachs (NYSE: GS) and Lehman Brothers (NYSE: LEH).

Bove widened his loss estimate for Lehman this year from a $6.33 loss per share to now $7.39 a share. Also, Bove reduced his profit forecast for Goldman Sachs from $14.16 a share to $12.60.

Bove increased Lehman's 2008 loss estimate as it appears that Lehman is having difficulty selling its fund manager Neuberger Berman. Bove said, "The only rational result is a hostile takeover. This (Lehman) Board and the CEO are committed to a program that is at odds with investors and employee views. Something must give.''

Bove noted that he cut Goldman Sachs eps estimates because he thinks Goldman's business has just been "lousy."

Today, Lehman is trading down 16% to $11.88 and Goldman Sachs is trading down 2.17% to $166.05.

Lehman Brothers Holdings serves the financial needs of corporations, governments and municipalities, institutional clients and high-net-worth individuals worldwide.
The Goldman Sachs Group is a global investment banking, securities and investment management firm.
Sign up at EasyStockAlerts.com To Be Alerted To Your Stock News Today!

You May Also Be Interested In

• Fiserv (FI) PT Raised to $175 at TD Cowen
• Fiserv (FI) PT Raised to $200 at Evercore ISI
• Costco Wholesale (COST) PT Raised to $710 at Citi