Dick Bove Cuts Goldman To Sell, Lowers Price Target From $163 To $120

From a note: The rating on Goldman Sachs stock is being lowered to Sell from Neutral. The price target is being cut to $120 per share from $163 per share. It now appears that the pressure on the Justice Department to bring a criminal lawsuit against Goldman is building to a high pitch. The new Matt Taibbi article in Rolling Stone Magazine is another all-out attack on the company. However, this time the attack is backed by a 650 page Senate report signed by both a Democrat and a Republican.
Then again, this is Dick Bove: the man who went to Buy on Lehman a few days before it filed.

Submitted by Tyler Durden