Rochdale Securities analyst Richard Bove appears to have changed his mind once again on Goldman Sachs (GS), about which he said in May: “This is not a good investment. The stock should be sold.”
Since he made that comment, the shares are down about 3about 30%. In August, he softened a bit and raised his rating to Neutral.
But now he’s all in.
The fiery Bove raised his rating to Buy today and upped his price target by $20 to $135, according to CNBC (viaDeal Journal). In May, Bove wrote that Goldman faced too large an overhang from the federal prosecutors sniffing around the bank, and the company appeared unwilling to shakeup its top management.
That’s not all: Bove apparently thinks Goldman would be smart to buy MF Global (MF), the troubled derivatives broker.
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