Bank of America Cuts Goldman on Federal Probe
April 30, 2010 at 11:01 AM EDT
Goldman Sachs (GS) extends to fresh session lows as Bank of America (BAC) downgrades the stock to Neutral from Buy and cut the target to $160 from $220, following reports that federal prosecutors are weighing criminal fraud charges against Wall Street’s most profitable firm. According to BofA, the “downgrade is prompted by news reports [...]