Goldman Sachs Downgrades Whirlpool (WHR) to Sell, Sees 24% Downside

Goldman Sachs downgraded Whirlpool Corporation (NYSE: WHR) to Sell with a price target of $42, suggesting 24% downside.

The firm said the upcoming supply increases in Brazil from LG and Samsung will pressure the company's highest margin business. Goldman notes that Brazil/Latin America accounts for 25% of Whirlpool sales, but 50% of its operating profit given the high margins.

Goldman sees the company's 2014 EPS goal of $15 as "unrealistic". They expect 2013 EPS of $4.67, well below consensus of $8.37, and 2014 EPS of $5.52.

For more ratings news on Whirlpool Corporation click here and for the rating history of Whirlpool Corporation click here.

Shares of Whirlpool Corporation closed at $54.98 yesterday.

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