Citi buys the dip in Goldman

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

via Bloomberg

Citigroup's Keith Horowitz isn't going to pile on Goldman Sachs (NYSE:GS) after the bank's lame Q1. Instead, he's taking the opportunity of yesterday's post-earnings tumble to pull his Sell rating on the stock.

This just in: Goldman is down 15% since the start of March, and Horowitz says risk/reward is more balanced.

It would be a mistake, he says, to extrapolate disappointing FICC results in Q1.

Shares are higher by 0.85% premarket.