Goldman Sacks WaMu
Fresh off their panhandling act to stay afloat...
Goldman Sachs cut its earnings estimate on Washington Mutual and recommended selling its shares short.
"Given WaMu's disproportionate exposure to states where home prices are forecast to decline."
Goldman believes WaMu will post a full-year loss will be wider than first estimated.
Sachs calls for a loss of $3.30 per share this year, vs forecast of a $1.00 loss.
WaMu may have $23 billion in mortgage-related losses, 12 month price target cut 17% to $10.
Goldman Sachs cut its earnings estimate on Washington Mutual and recommended selling its shares short.
"Given WaMu's disproportionate exposure to states where home prices are forecast to decline."
Goldman believes WaMu will post a full-year loss will be wider than first estimated.
Sachs calls for a loss of $3.30 per share this year, vs forecast of a $1.00 loss.
WaMu may have $23 billion in mortgage-related losses, 12 month price target cut 17% to $10.
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