Morgan Stanley Downgrades Goldman Sachs (GS) to Equalweight

Morgan Stanley analyst Betsy Graseck downgraded Goldman Sachs (NYSE: GS) from Overweight to Equalweight with a price target of $226.00 (from $291.00).

The analyst steps aside citing the uncertainty swirling around the 1MDB investigation. The analyst acknowledges the valuation appears cheap but due to lacking upside catalysts, it will be unlikely the multiple will expand and until 1MDB scandal is resolved.

For an analyst ratings summary and ratings history on Goldman Sachs click here. For more ratings news on Goldman Sachs click here.

Shares of Goldman Sachs closed at $191.34 yesterday.

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