Analyst Whitney cuts Goldman to neutral

Prominent banking analyst Meredith Whitney downgraded Goldman Sachs Group Inc (GS.N) to "neutral" from "buy," citing the recent rise in share price, but said the company still had strong fundamentals.

The stock, which has risen 34 percent in the past three months, has exceeded her price target of $186, and upside could be limited over the medium term, Whitney said in a note to clients.

"We believe at current prices, the secret is out with respect to strong second half earnings, and expect the company to beat third- and fourth-quarter estimates," the analyst said.

Read Full Article from Reuters

- Posted: 2009-10-13 14:07:14

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