Dick Bove Takes Scalpel to Goldman (NYSE:GS) After Devastating Quarter

Rochdale Securities banking analyst Dick Bove slashed his EPS estimates and price target on Goldman (NYSE:GS) after their horrendous last quarter.

Bove wasn't treating Goldman as an outpatient, he did major surgery on the numbers.

He lowered his full year 2011 EPS estimate from $20.32 to $14.70, and for full year 2012 and 2013, he dropped them from $22.87 and $24.94 to $16.55 and $18.66.

For the price target on the company, Bove lowered it from his previous $214 to a relatively anemic $188, a 12 percent cut.

Goldman ended the trading session Wednesday at $166.49, falling $8.19, or 4.69 percent.