Deutsche Bank Sees Goldman Sachs (GS) Posting a Loss in Q3, Also Cuts Morgan Stanley (MS)
GS Hot Sheet
Rating Summary:6 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Deutsche Bank is the latest firm to lower estimates on Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS) in the wake of a weaker macro backdrop and lower capital market trends.
The firm cut Q3 EPS estimates on Goldman Sachs from a profit $0.50 to a loss of $0.25, which compares to the consensus of $1.35.
The firm cut Q3 EPS estimates on Morgan Stanley to $0.30 from $0.40, versus the consensus of $0.38.
"The broker stocks have been under pressure due to the Euro sovereign issue (systemic fears) & weaker macro backdrop, but given significantly lowered expectations & valuations below TBV, we view these as priced in, & once we get some clarity around the Euro issue, we see meaningful upside," the analyst comments.
Goldman Sachs reports earnings on October 18.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
The firm cut Q3 EPS estimates on Goldman Sachs from a profit $0.50 to a loss of $0.25, which compares to the consensus of $1.35.
The firm cut Q3 EPS estimates on Morgan Stanley to $0.30 from $0.40, versus the consensus of $0.38.
"The broker stocks have been under pressure due to the Euro sovereign issue (systemic fears) & weaker macro backdrop, but given significantly lowered expectations & valuations below TBV, we view these as priced in, & once we get some clarity around the Euro issue, we see meaningful upside," the analyst comments.
Goldman Sachs reports earnings on October 18.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
You May Also Be Interested In
- Morgan Stanley (MS) In Full Fledged Disaster Control Mode After Facebook (FB) Fiasco
- UPDATE: Bristow Group (BRS) Reports Better-Than-Expected Q4 Results; Offers FY13 Outlook
- UPDATE: Lowe's (LOW) Beats Q1 Views Amid Lagging Seasonal Demand; Issues Light FY12 Earnings Outlook
Create E-mail Alert Related Categories
Analyst Comments, Trader TalkRelated Entities
Deutsche Bank, Morgan Stanley, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
