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Thursday, December 30, 2010

Goldman (NYSE:GS), Morgan Stanley (NYSE:MS) EPS Estimates Lowered by Credit Suisse (NYSE:CS)

Continual volatility in the market and soft fixed income sales were cited by Credit Suisse (NYSE:CS) as the reasons they've lowered their EPS estimates on Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS).

Credit Suisse said Goldman would be affected by the soft fixed income sales and Morgan Stanley with the volatile market.

For Goldman, they lowered their full year 2010 EPS on them from $14.45 to $13.08. That's 41 cents below the $13.49 the Street is looking for.

Morgan Stanley's EPS estimate for the fourth quarter was dropped from 60 cents to 20 cents. For full year 2010, it was lowered from $2.56 to $2.18.

Goldman Sachs was trading at $167.37, down $0.26, or 0.16 percent, as of 11:46 AM EST. Credit Suisse has an "Outperform" rating on Goldman, and a price target of $190.

Morgan Stanley was trading at $27.34, up $0.06, or 0.22 percent. Credit Suisse has an "Outperform" rating on Morgan as well, with a price target of $35.

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