Odeon Capital Downgrades Goldman Sachs (GS) to Hold on Fed

January 28, 2022 7:14 AM EST
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Price: $353.82 +0.61%

Rating Summary:
    20 Buy, 18 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 40 | New: 22
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Odeon Capital analyst Dick Bove downgraded Goldman Sachs (NYSE: GS) from Buy to Hold.

The analyst commented, "The downgrades do not reflect any perceived problems in the operation of either company. They are based upon the Federal Reserve Chairman’s claim that the Fed may lower the size of its balance sheet in 2022. If the Fed follows through on this claim it is unlikely that these companies will achieve the consensus earnings projections now in place. The markets they serve are likely to contract meaningfully making this improbable."

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 $341.03 yesterday.

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