Dick Bove Cuts His Estimates On Goldman Sachs (GS)

Noted financial analyst Dick Bove, of Rochdale Securities, appeared on Fast Money tonight and said that he had cut his Q1 earnings estimates for Goldman Sachs (NYSE: GS) from $4.88 to $3.99. Bove believes that the bank will be hurt by a slowdown in trading activity.

For full year 2010, Bove is estimating that Goldman Sachs (GS) will earn $18.04 per share. He has a Buy rating on the stock and a $200 price target, notwithstanding the Q1 earnings revision. During today's trading, Goldman shares gained 1.41%. Fast Money trader Brian Kelly said tonight that he remains short Goldman stock and Guy Adami said that he believes Goldman is also going lower in the near term.