Goldman Sachs looking a bit pricey?
While Richard Bove was busy upgrading several of the top investment banks (including Goldman Sachs), Meredith Whitney of CIBC--she of recent Citigroup fame--has decided that Goldman Sachs had gotten a bit ahead of itself, according to this Fortune item. She changed her call to perform from outperform. She's not bearish on Goldman's near-term future. She still thinks the bank will out-execute its peers. She just thinks at the 40 percent premium at which it trades relative to Merrill Lynch and Lehman Brothers is bound to narrow. We've said it before that Goldman Sachs may have a tough time repeating its stunning performance in 2007. Others may come around to that view as well.
For more:
- here's the Fortune item
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