Goldman Sachs: UBS downgrades to 'neutral.'
(CercleFinance.com) - UBS downgraded Goldman Sachs to "neutral" from "buy" citing earnings quality, sending the shares slightly down this Monday on the Dow Jones Industrial Average index.
In a research note, UBS said it downgraded the shares as the market seems to be pricing an inflection in bonds, currencies and commodities (FICC) revenues despite the business' recent weakness.
The broker says it has "limited confidence in that" and believes there are better opportunities for investors such as Morgan Stanley.
The brokerage firm also lowered its price target on the stock, to 230 dollars from 255 dollars.
The stock was down 0.6 per cent at 218.8 dollars in morning trading.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
In a research note, UBS said it downgraded the shares as the market seems to be pricing an inflection in bonds, currencies and commodities (FICC) revenues despite the business' recent weakness.
The broker says it has "limited confidence in that" and believes there are better opportunities for investors such as Morgan Stanley.
The brokerage firm also lowered its price target on the stock, to 230 dollars from 255 dollars.
The stock was down 0.6 per cent at 218.8 dollars in morning trading.
Copyright (c) 2017 CercleFinance.com. All rights reserved.