UPDATE: CLSA Downgrades Goldman Sachs (GS) to Outperform

(Updated - July 16, 2013 2:00 PM EDT)

CLSA downgraded Goldman Sachs (NYSE: GS) from Buy to Outperform with a modified price target of $185 (from $176). The change follows Goldman's Q2 results. While analyst Mike Mayo is still positive, he doesn't think there is enough upside in the stock to justify a Buy rating (20% needed for Buy rating).

Mayo boosted 2013/2014/2015 EPS estimates to $14.85/$15.85/$17 from $12.60/ $15/$16.40.

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 $163.00 yesterday.

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