BofA says it downgraded Goldman (GS -1.5%) and Citi (C -0.85%) because Q1 results from both...

|By:, SA News Editor

BofA says it downgraded Goldman (GS -1.5%) and Citi (C -0.85%) because Q1 results from both firms will likely be weak, with EPS of $3.91 for Goldman instead of $5.93, and $0.10 for Citi instead of $0.13. "Client engagement remains subdued, Middle East turmoil likely only to further reduce customer risk appetite."