BofA/Merrill Lynch Downgrades Goldman Sachs to “Neutral” (GS)
Bank of America/ Merrill Lynch reported on Tuesday that it has lowered its rating on financial services company, Goldman Sachs Group, Inc. (GS).
The firm has downgraded GS from a “Buy” to “Neutral,” and has given the company a $155 price target. This price target suggests a 5% increase from the stock’s current price of $146.04.
Analysts have downgraded the company based on valuation and its risk/reward balance, which now has less upside.
Goldman Sachs shares were mostly flat during premarket trading Tuesday. The stock has increased 17% in the past year.
The Bottom Line
Shares of Goldman Sachs Group, Inc. (GS) have a 1.37% yield, based on Monday’s closing price of $146.04.
Goldman Sachs Group, Inc. (GS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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