Goldman Analysts Lower Profit Forecasts For Capital-Market Firms (GS)
3/19/2010- Goldman Sachs (NYSE: GS) analysts lowered their profit forecasts for JP Morgan (NYSE: JPM), Bank of America (NYSE: BAC), Morgan Stanley (NYSE: MS), Jefferies Group (NYSE: JEF), and Piper Jaffray (NYSE: PJC) by an average of 15% for Q1 and by 3% for full-year 2010.
The bank said that capital markets have gotten off to "choppy start" but that the overall outlook remains upbeat.
Analysts wrote, "We continue to have a positive view on the outlook for capital markets activity despite a weak February."
Write to Chip Brian at cbrian@tradethetrend.com
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