Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 86.12

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From: tejek	4/30/2010 10:28:57 AM
	of 1428

S&P downgrades Goldman Sachs to sell By Greg Morcroft GS 1651601551501458a9a10a11a12p1p2p3pNEW YORK (MarketWatch) -- Analysts at Standard & Poor's on Friday downgraded shares of Goldman Sachs /quotes/comstock/13*!gs/quotes/nls/gs (GS 148.19, -12.05, -7.52%) to sell from hold and trimmed their price target for Wall Street's most profitable investment bank to $140 from $180. The rating agency cited a Wall Street Journal report that said the company is now the target of a federal criminal probe into its mortgage dealings as the reason for the downgrade. "Though traditionally difficult to prove, we think the risk of a formal securities fraud charge, on top of the SEC fraud charge and pending legislation to reshape the financial industry, further muddies Goldman's outlook," S&P analysts wrote to clients Friday morning. Goldman Sachs shares fell 6.8% in early trade. marketwatch.com

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