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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (9163)6/26/2008 6:48:03 AM
From: RockyBalboa  Read Replies (3) of 71405
 
How low GM? Goldman Sachs is heartless! They downgraded the stock because it potentially needs capital. Holy shit, now every other day an investmentbank can come out and downgrade something on that reason.
Next month they can say thing are not as bad as they appear and they need no capital anymore. I´m darn sure.

GM cut at Goldman on potential need to raise capital

LONDON (MarketWatch) -- Goldman Sachs cut its rating on three auto stocks Thursday. The broker downgraded General Motors Corp. to sell from neutral and lowered its price target to $11 from $19, saying deteriorating market fundamentals could exacerbate liquidity concerns. "We think GM's automotive cash flow burn this year and next is likely to lead it to look to raise capital, which we believe could lead to significant shareholder dilution and/or a cut to the company's dividend," Goldman said. It also lowered its rating on Lear Corp. to sell from neutral, citing its disproportionally large exposure to the big three truck makers. Finally the broker downgraded Tenneco, Inc. to neutral from buy, saying that while it continues to see the stock as a core long-term holding with strong earnings and free cash flow growth prospects, it believes second-quarter earnings could miss expectations.
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