Investors Looking For a Weak Quarter at Goldman (GS)
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According to reports from the Wall Street Journal, Goldman Sachs (NYSE: GS), which has avoided the pitfalls of the subprime debacle, may post its smallest quarterly profit in three years. The problem Goldman faces is slow investment banking activity and its leveraged-loan exposure.
The paper said investors are already expecting a poor quarter from the investment banking giant, noting the stock is down 14% since February 1st. But an analyst at Fox-Pitt Kelton, David Trone, thinks the stock may still be too expensive, saying it should only trade at at 10% premium to the group, which implies a price 19% below current levels.
Link To WSJ Article $
The paper said investors are already expecting a poor quarter from the investment banking giant, noting the stock is down 14% since February 1st. But an analyst at Fox-Pitt Kelton, David Trone, thinks the stock may still be too expensive, saying it should only trade at at 10% premium to the group, which implies a price 19% below current levels.
Link To WSJ Article $
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