Media

Goldman Sachs Sticks Sell on GameStop (GME)

GameStop Corp. (NYSE: GME) has seen shares downgraded at Goldman Sachs this morning.  The brokerage firm cut its already cautious Neutral rating down to a new Sell target.  The stock target is $50.00, implying a downside of 12%.

Part of Goldman Sachs’ call is the relative outperformance with gains of 30% since March 10, whereas the S&P 500 is up roughly 9%. Another issue is a perceived industry deceleration from its current peak.

This also follows the resignation of President Steven Morgan on Friday, which will be effective May 2, 2008.

GameStop shares are indicated down about 3.5% this morning at $54.70.  Its 52-week trading range is $32.31 to $63.67and its market cap before the drop was nearly $9.2 Billion.

Jon C. Ogg
April 21, 2008

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.