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Banking, finance, and taxes

Are Goldman Sachs & Morgan Stanley Worth 50% More? (GS, MS)

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By Douglas A. McIntyre Updated Published
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Money Stack ImageResearch analysts often make timely calls, and sometimes they make rash calls.  If Dick Bove of Rochdale is accurate, then both the Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) could be worth almost 50% more than their current share prices.

Bove has lifted his prior $152 target on Goldman Sachs to a new level of $200 per share.  Bove also lifted his prior $30 target on Morgan Stanley to $35.  The mainstays on these are trading revenues and investment banking activities picking back up.

So far, the market isn’t biting as these financial stocks are giving back some of their elevated gains.  Morgan Stanley is down 2% at $25.43 today, but it is up more than 200% from its climax-selling lows.  Goldman Sachs is down 2% at $133.00, and that is actually up almost 200% from its climax-selling lows.

That represents a 50% upside for Goldman Sachs and an almost 40% upside on Morgan Stanley if Bove is right.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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