While Jefferies (JEF) Fights, Goldman Doesn't Have Anything Nice to Say

While Jefferies Group (NYSE: JEF) was busy defending itself Monday from "maliciously and false rumors," analysts at fellow investment bank Goldman Sachs didn't help matters.

Goldman reiterated its "Sell" rating and cut its price target on Jefferies from $13 price target of $11.50, saying beyond questions about its short term/repo funding model Q4 results are not likely to boost shares given the weak banking environment.

The firm lowered their Q4 EPS estimate form $0.20 to $0.15 and trimmed F2012E/F2013E EPS to $1.20/$1.50. They said the company will struggle to drive above a 10% ROTE the next two years, which will keep valuation below 1.0X tangible book value.

For an analyst ratings summary and ratings history on Jefferies Group click here. For more ratings news on Jefferies Group click here.

Shares of Jefferies Group closed at $10.16 yesterday.

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