Credit Suisse price target lowered by Goldman, which keeps rating at sell


Credit Suisse’s rating CS, -7.63% CSGN, +0.60% was kept at sell and had its price target lowered to 4.7 francs from 5.8 francs by Goldman Sachs. Analysts led by Chris Hallam said that given its view that investment bank requires restructuring while capital generation is minimal, it now views an equity raise as prudent to preserve a buffer. It estimated a capital shortfall of more than 5 billion francs ($5 billion). Credit Suisse shares rose 0.9% to 4.39 francs but have dropped 50% this year.

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