New York, June 7th (TradersHuddle.com) – Goldman Sachs (NYSE:GS), the premier global investment banking and securities firm, is drifting lower, a shares are now trading below the $140 level at $139.64, close to its 52-week low.
Deutsche Bank adjusted their estimates and price targets on Brokers and Asset Managers given the volatile capital market trends in the 2nd quarter. The analysts in particular looked at revenues driven by trading volumes and market level, and adjusted their estimates to reflect the current environment, which calls to estimates reductions for the current quarter, full year 2010 and next year.
Deutsche Bank believes the exchanges will benefit and the market developments will hurt the brokers and assets managers. The analysts cut their target stock price for Goldman to $205 from $220 a share.
Goldman Sachs’ 52-week high is $193.60 and its 52-week low is $134.20.