Odeon Capital Downgrades Goldman Sachs (GS) to Hold on Fed
- S&P 500, Nasdaq close up 4th straight week as optimism grows
- 'Back in Tech': Investors are Increasing Exposure to Tech and Growth Stocks - BofA
- Rivian Reports Bigger Loss, Says Current Models Won't Qualify for Tax Breaks
- US-listed China Stocks Slip on Delisting Moves, Analyst Sees Short-term Noise
- Salesforce (CRM), Snowflake (SNOW) Rated New Sell at Guggenheim, Oracle (ORCL) at Buy
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
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."
Shares of Goldman Sachs closed at $341.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Humanigen Inc. (HGEN) Reports Q2 EPS of ($0.43)
- Coway Co Ltd (021240:KS) PT Lowered to KRW74,000 at JPMorgan
- Power Grid Corp of India Ltd (PWGR:IN) PT Raised to INR255 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades, Hot Downgrades
Related EntitiesGoldman Sachs, Richard Bove, Earnings
Sign 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!