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Was Goldman's Selloff Just What Was Needed To Make Shares Attractive?

Goldman Sachs Group Inc 's surprisingly poor earnings report this week and the stock's subsequent selloff prompted analysts at Citi to upgrade the bank.

Citi's Keith Horowitz upgraded shares of Goldman Sachs from Sell to Neutral with an unchanged $225 price target. According to the analyst, the "disappointing" first quarter report now makes the risk to reward profile on the stock "more balanced" which warrants a Neutral rating.

Horowitz believes investors weren't discounting the volatility in the firm's trading results. In fact, while the fixed income performance was "disappointing" it would be a mistake for investors to extrapolate these results.

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  • 90 90 correctly predicted forecasts
    Long/Short Investments
    I remember when shares were $140 last year. Banks weren't attractive so I passed.
    Reply
    1
  • 152 152 correctly predicted forecasts
    Max Grigoryev
    Marcus by GS is an interesting thing, I think it may be much bigger this year
    Reply
    1
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