Credit Suisse cuts Q3 profit view on Goldman Sachs

Analysis

Credit Suisse cut its Q3 profit view on Goldman Sachs by 30% citing cost of asset price declines, weaker trading volumes and reduced investment banking activity.

Analyst Susan Katzke now expects third-quarter earnings of $1.50 a share, down from her earlier view of $2.15 a share.

Katzke, who has an outperform rating on the stock, also cut her 2008 earnings per share view on the company to $13.50 from $14.50.

She, however, did not change her 2009 profit view of $19.0 on the largest US securities firm.

In the past few weeks, Goldman Sachs has seen analysts at Merrill Lynch, Fox-Pitt, Bernstein, Citigroup and Lehman cut their estimates on it. (Reuters)

Alteo Shareholders Approve HUF 400/Share Dividend Green Energy

Alteo Shareholders Approve HUF 400/Share Dividend

Bulgaria's Household Income, Spending Rise 20% in 2023 World

Bulgaria's Household Income, Spending Rise 20% in 2023

MBH Bank’s Post-merger HR Vision HR

MBH Bank’s Post-merger HR Vision

Silvanus Hotel Under Reconstruction, Will Reopen in Fall Hotels

Silvanus Hotel Under Reconstruction, Will Reopen in Fall

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.