Bove: The Senators Overplayed Their Hand, Goldman's Heading To $200

Dick Bove

The verdict yesterday from the market was that the hearings didn’t bloddy Goldman Sachs (GS) very much. The stock was up, even as the market sold off hard.

One guy in Goldman’s camp: Rochdale Securities analyst Dick Bove, whose prone to making dramatic calls about bank stocks.

The nut of his argument, made on CNBC: “I think it’s a $200 stock. I think the company’s earnings are very good, I think you should own it, I think it’s a tremendous opportunity.”

The implication is that the SEC case needn’t enter into your calculus.

As for yesterday’s hearing: “The firestorm hitting Goldman just burned itself out yesterday… It appeared to me that Senators overplayed their hand. They came out firing.”

We generally agree. You can see our verdict here >

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